Achieve Quote by Robert H. Frank
“Many decry rising inequality because it makes those who've fallen behind feel impoverished. But it's done much more than cause hurt feelings. It has also raised the real cost to middle-income families of achieving many basic goals. The process begins with the completely unremarkable fact that top earners have been spending at a substantially higher rate than before. They've been building bigger mansions, staging more elaborate weddings and coming-of-age parties for their kids, buying more and better of everything.”
About This Quote
Source Book: The Price of Inequality, Robert H. Frank, 2015
Rising inequality burdens middle‑income families as the wealthy spend more on luxury, increasing living costs.
In simple terms: Inequality raises costs for middle class due to elite spending.
Key Takeaway
Address spending disparities.
Themes
inequality
economics
social cost
Mood
analytical
concerned
Type
economic
policy
When to use this quote
- housing
- education
- healthcare
- family budgeting
Key Concepts
luxury consumption
policy impact
Questions to Reflect On
- How does elite spending affect your budget?
- What policies could mitigate these costs?
A Different Perspective
Policy changes can be politically difficult.
