With rising incomes, the share of expenditures for food products declines. The resulting shift in expenditures affects demand patterns and employment structures.
Ernst EngelAbout author
- Author's profession: Economist
- Nationality: deutsch
- Born: March 26, 1821
- Died: December 8, 1896
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We lead our lives like water flowing down a hill, going more or less in one direction until we splash into something that forces us to find a new course. If I'd never met Mr. Tanaka, my life would have been a simple stream flowing from our tipsy house to the ocean. Mr. Tanaka changed all that when he sent me out into the world.
Arthur Golden