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To: Valpal1

SO, by their definition, I suppose ramen noodles are a necessity, but hamburgers are a luxury item.


6 posted on 07/10/2017 5:00:16 PM PDT by PAR35
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To: PAR35
SO, by their definition, I suppose ramen noodles are a necessity, but hamburgers are a luxury item.

Indeed, the article is nonsense. I'm no expert on economics, but I do remember the basics. Economists don't use the term "needs": They only use the term "wants". All of your money is spent on luxuries. You don't need a smart phone, electricity, house, car, microwave, plumbing, etc. Humans survived just fine without any of those things in the past.

13 posted on 07/10/2017 5:15:17 PM PDT by j. earl carter
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