Lecture #9 "Work Less- Earn More- Spent less in food" (9/21/2010)

        Families right now use a smaller part of their income in food and other necessities than before. You could read about facts that show that in the 1970s people used up to 80% of their income in basic species or food. When right now in 2005 statistics came out showing that we only spent like 38% of our income in food or basic necessities.

When also right now people is earning a lot more than ever before. Moreover working hours has decrease a lot through history. Are we more lazy than before? We are working less hours, earning more money and spending a lot less money in food and necessities than before. Isn't that great? I think that shows how we have before more efficient in our working hours and earning but more but luxurious in our spendings.

What can we interpret from this?
After listening to this we can interpret the information and make other assumptions. So an increase in food price right now is basically no as severe as it would have been in the past. That is why we see around the globe how business and big companies right prices in food and basic necessities. Since a er small part of families income is used for food their is a big portion of the income that could be also used for this. Therefore if the food market gets more expensive it will not caused a chaos to everybody when if food price increase 200 years ago people will stop eating or eating less.

-Rizzo

Daniel Gaona