Cheap is beautiful

4. September, 2010

We have a lot more money than our ancestors. For example, we spend only 12.4% of our income on food while in 1900, people had to spend about one third. Other things have become more expensive, true, but that doesn’t explain the recent trend for “cheap is beautiful” (or the German “Geiz ist geil”).

If you buy something from the odd lot, then you’re buying an item that lay in stock for a year, and no one bought it. Why? Because the item isn’t the best in the lot. Or rather, it didn’t have enough bang for the buck.

When you buy something, always remember that it’s only cheap after it has fulfilled your needs.

Related Books: Cheap: The High Cost of Discount Culture