O'Reilly logo

Economic Behaviour (Routledge Revivals) by Colin Harbury

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 1The Family Budget

The average London family spends almost twice as much on housing as does a family living in Wales.

This may not seem perhaps to be the most inspiring piece of information with which to begin a book on economics. Yet it is one which is full of exciting implications for an economist.

Why, one wonders, does the Londoner spend nearly £15 a week putting a roof over his head, while the Welshman spends only a little more than half that amount?1 What reasons lie behind this rather startling difference?

The explanation is unlikely to be a simple one. High housing expenditure in London certainly has something to do with the price of houses there compared to those in Wales. But that is not, in a real sense, a basic cause, for ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required