How much was the increase in "spending on others" in dollar terms? That may tie into the "social or cultural restrictions preventing them from saving".
How much was the increase in "spending on others" in dollar terms? That may tie into the "social or cultural restrictions preventing them from saving".
I thought of the same thing. Poor people often survive through social networks - when one person succeeds they share with others, and expect the same in turn. This seems rational for people who are near the line where they can't afford to live at some points in their life, and have few to no alternatives. It's a type of social insurance.
How much was the increase in "spending on others" in dollar terms? That may tie into the "social or cultural restrictions preventing them from saving".
I thought of the same thing. Poor people often survive through social networks - when one person succeeds they share with others, and expect the same in turn. This seems rational for people who are near the line where they can't afford to live at some points in their life, and have few to no alternatives. It's a type of social insurance.