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by magicalist
2955 days ago
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Those aren't luxuries as the word is often used. > For its part, the Deutsche Bank report explicitly defined luxuries as goods or services consumed in greater proportions as a person’s income increases and necessities as those goods or services that make up a smaller proportion of spending as a person’s income increases. > It’s worth noting that by the specialized nomenclature of the dismal science, even eating at McDonald’s is a luxury — that is, we do it more as our incomes rise — while smoking and lottery-ticket buying are categorized as necessities. |
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If someone is spending more on food, clothing, electronics as their income rise those things are clearly discretionary.