Tuesday, October 4, 2011

Engel's Law

What is Engel's Law?
So this dude in 1857 named Ernst Engel, a German statistician, came up with this "law".  Plainly stated it means that if you spend 25% of your income today on essentials and you make $50k - you're spending $12,500 on essentials, but if you get an increase to $100k, you will still spend approximately $12,500 on food and essentials.  You won't increase your amount to $25,000.

Okay - so I have to say..REALLY?  You think that I won't use more toilet paper if I make more money.  Were people dumber in the 1800's and someone really had to explain this.  I wonder if this guy won some sort of award for his totally obvious assertion.

I believe that a person who has 24 hours in the day to complete a task will spend possible 8 hours a day being productive.
I believe if you give a teenager a cell phone they will text 3 hours a day.
It is positive that the days get shorter in the winter months.
I believe that this blog has already taken too much time out of my 8 hours of productive time today.

No comments:

There was an error in this gadget