Applying Arguments about Economics and Place Essay

Applying Arguments about Economics and Place - Essay ExampleIt gives a detailed explanation of why the poorer people in the United States of the States seem to acquire and store more invaluable blank out as compared to the fairly financially stable people.According to Paul Grahams article, i of the articles in unit two, the contemporary American market is full of cheap stuff as compared to the traditional America (Paul 1). People economic consumptiond to under measure stuff and only accumulated only a portion of what they bought and considered absolutely valuable to them. In the contemporary America, however, people seem to overvalue stuff despite the feature that they are cheaper as compared to the traditional stuff. Paul tries to give an explanation to why poorer people are more likely to value stuff with lesser value as compared to the fairly rich people. He explains that he would pick things left by friends when they moved to new homes because he was poor, and useless stuff s eemed useful to him. This is an discount that poor feel that they will perhaps make use of stuff in the future despite the fact that the same stuff aptitude be useless to them at that particular moment (Paul 1). That is a confirmation of the uncertain future that the poor face.Paul further explains that stuff in an illiquid asset and this might only change when one finds immediate use for it. In addition to that, stuff becomes a liquid asset only when one sells the stuff straight off he or she acquires it at a higher price compared to the buying prices. Therefore, stuff that is accumulated over a period of time becomes uneconomical. As a matter of fact, the stuff becomes expensive to keep because it occupies space thereby demanding for storage space. For this reason, Paul explains that it is worth noting that once one does not have immediate use for whatever he or she is trying to acquire, he or she probably never will have use for that object (Paul 1).The increase of stuff in th e markets, both used and new, is attributed to the increased