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Cake day: June 10th, 2023

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  • People buy stuff for the image. Apple has cultivated a certain image with its branding that people are attracted to and buy their products because of it. I’ve heard it described as “People don’t buy what you make but what you are.” The image and brand of the company is often why people buy from them. Apple produces products for cool hip people, not the stuffy old guys in suits! You’re a cool person, right?

    Something being expensive is often part of the image. People like to pretend they’re rich and the more expensive all their stuff is the more they can project that image. It can also be self validation. Owning expensive products can someone feel better about their lives.







  • Economics Explained has an interesting video on the topic. After WWII, Japan became the first country in Asia to undergo an industrial revolution and soon became the second largest economy after the US and was by many accounts set to match or even overtake the US. They then suffered an economic collapse due to unchecked growth and speculative markets and decided to never again speculate on the future and just stick to tried and true methods.

    Since the 1990s, Japan’s economy has barely changed while other nations have seen huge growth. You’d assume that would mean Japan is now far behind, but they aren’t. They seem to have mastered keeping everything the same for decades without the normal decline that comes with it.