Build your professional network on facebook via our app Go to app
 
 
Posted in Community :

Primetime News

 
Activity:  9 comments  105 views  last activity : 08 06 2011 16:43:06 +0000
 Refer 233
Share
 
 
 

A study conducted in 1919 by Professor E. L. Thorndike, of Columbia University, indicates that the actual American expenditures for food, clothing and housing are considerably larger than the actual necessities to sustain life. He took from the United States census and similar reliable sources the total classified expenditures of the people of the United States. According to the press report he said, "By the aid of a consensus of psychologists, I have divided each item of our peoples' expenses among the wants to which it probably ministers, and then combined the results into a list of wants and the amounts paid for the satisfaction thereof. . . . The payments for sensory pleasures, security, approval of others, and the pleasures of companionship and sociability, including romance and courtship, are in each case close in magnitude to the amount paid for freedom from hunger. . . . We pay more for entertainment (including the intellectual pleasures and the sensory pleasures of sight, sound, taste and smell) than for protection against cold, heat, wet, animals, disease, criminals and other bad people, and pains." The fact that we spend annually seven hundred million dollars for cosmetics and beauty parlors, and in 1919 spent one billion dollars for candy; fifty million dollars for chewing gum; and two billion, one hundred and ten million dollars for cigars, cigarettes, tobacco and snuff adds pungency to Dr. Thorndike's observations. He continued, "Less than one-third of what we spent went for wants which must be satisfied to keep the human species alive and self-perpetuating. The rest went chiefly to keep us amused and comfortable, physically, intellectually, morally and especially socially." He analyzed our total expenditures for food thus:—"56 per cent to satisfy hunger; 15 per cent to gratify the pleasures of taste and smell; 10 per cent for the pleasures of companionship and social intercourse, including courtship; 3½ per cent for the approval of others, and smaller percentages for protection against disease and cold, enjoyment of the comfort of others and the pleasures of vision." Similarly in regard to expenditures for clothing, he believed that nearly half the total was for reasons other than mere bodily protection. The approval of others, self approval, pleasure of vision, courtship, and other elements are strong causes of expenditure for clothes.

   In view of all this, it is clear that in our expenditures of money, while elemental necessities must be met, nevertheless there is above that line a wide realm for the application of the principle of simplicity.

 Top Comment : MS_Pi    | 08 02 2011 04:52:51 +0000
This reminds me of a story. A person won a lottery of Rs.10.00 Lakhs. To a query on how that money was used, he replied "I spent Rs.5 Lakhs on women and wines, another Rs.3 Lakhs on cards and races" and added that "the balance is wasted on un-necessary expenses"
 
9 comments on "Amazing Similarities of 1919 Americans and 2011 Indians"
  Commented by  Pooja Joshi, Home-Maker    | 08 06 2011 16:43:06 +0000
Rating : +1 
Good one......Thanks for sharing 
  Commented by  Sanjay Bhardwaj, Partner/Principal/VP, BPL Ltd, Health Management Solution    | 08 06 2011 13:49:30 +0000
Rating : +1 
the socio economic indicator and demographics of US ia vastly diffrent then we Indians, simply copying is nothing short of ignorance or foolishness  
  Commented by  Murali Murugesan, Vice President - SMILE    | 08 03 2011 21:27:45 +0000
Thanks for referral Sir. It holds good for not only today's india but for decades to come
  Commented by  Mathew Cherian, Research Associate/Analyst, Western Michigan University    | 08 03 2011 18:22:30 +0000
MS_PHI, "the fool and his money parts company easily". Mr. Murali, Indians spending habits cannot be compared with America, it is like comparing cheese and chalk. It is a meticulously conceived and run economy where theory of 'value' plays a great deal. There all consumptions are public because of the above reason. In India we do not even know how to create 'public consumption' even after 50 years of independence, so much for our experience. Every citizen need to supplant with private consumption and so find extra means of income outside his regular income. This turns out in the form of 'corruption'. So when the government learns nobody knows when, then our consumption can be compared to American or any well meaning nations to their citizen.
  Commented by  Manoj Pande, Corporate Advisor    | 08 02 2011 11:21:50 +0000
Good one!!!
  Commented by  Rajesh Tekale, Counsel, Advocate on Record , High Court, Mumbai    | 08 02 2011 06:40:24 +0000
thanks for sharing the amazing facts.
Its amazing.  Mr. Murali ji I surprise how you got this kind of material.  Can we call it as a transition period. Gr8 similarities.  Thank you very much.
  Commented by  Rathin Deb, Freelance Retail Consultant    | 08 02 2011 04:59:22 +0000
Muralidharan once again a nice article and I tend to agree on the similarities.
  Commented by  MS_Pi, Top Management, Confidential    | 08 02 2011 04:52:51 +0000
Rating : +2 
This reminds me of a story. A person won a lottery of Rs.10.00 Lakhs. To a query on how that money was used, he replied "I spent Rs.5 Lakhs on women and wines, another Rs.3 Lakhs on cards and races" and added that "the balance is wasted on un-necessary expenses"
Add your comment on "Amazing Similarities of 1919 Americans and 2011 Indians"

Rate:
Submit
Leading recruitment firm from Bangalore
  • Create a confidential Career Profile and Resume/C.V. online
  • Get advice for planning their career and for marketing of experience and skills
  • Maximize awareness of and access to the best career opportunities
Viewers also viewed
What changes in Indian political system would you like to see in 2011?
 
1168 referals 30 votes, 1053 views
Yes vs No
 
555 referals 11 arguments, 249 views
Portals vs Social Media
 
189 referals 5 arguments, 128 views
more...  
Recent Knowledge (83)
INSPIRATIONAL STORY...BY AN INDIAN CEO...   of a US firm! From studying under the streetlights...
 
78 referals 11 comments, 630 views
One day, a father of a very wealthy family took his son on a trip to the country with the firm...
189 referals 12 comments, 250 views
Kingfisher is a big banner and we see this brand doing many things including lavish waste of...
 
2283 referals 32 comments, 452 views
more...  
More From Author
Thanks Ms. Pooja for sharing Rajendra Singh Kunwar's 'Fariyaadi' poem. "My childhood"
Linux,of course, is the best OS for IT professionals,if they are well-versed in kernel settings, etc. For Users' perspective, Microsoft Windows is the user-friendly and most preferred OS.
Excellent write-up Mr. Rao. What you have not covered in this software implementation success, the role of the companies to select the right type of hardware vendors, software vendors and the third-party software development company. If they don't...
more...