I think that this attributes to people rather more economic astuteness than they actually possess. If people think that an LCD will be cheaper next year, why did they buy it last year? Not, I posit, because they said "white goods are getting cheaper over the long term, I cannot delay such purchases forever", but bvecause the woman down the road gets on their tits and she has just bought a 37in LCD, that's why.
People will stop buying if they have no access to money. If they have access to money, they will buy. By your analogy, people should hoard redundancy money (surely the ultimate "one-off" benefit) whereas the evidence is that they splurge it on holidays to get away from the depression of losing a livelihood.
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Date: 2008-12-06 07:22 pm (UTC)People will stop buying if they have no access to money. If they have access to money, they will buy. By your analogy, people should hoard redundancy money (surely the ultimate "one-off" benefit) whereas the evidence is that they splurge it on holidays to get away from the depression of losing a livelihood.