Of course selling a fridge once or twicein the lifetime of a consumer is not the high recurrence business model of sugar-water vendors targeting impressionable children and exploiting their apetite for sugar and instant gratification.
An experienced worker laid off when unemployment is at 9% faces a reduction inlifetime earnings nearly twice that of someone sacked when the rate is 5%: a loss of 20% on average, according to new work by Steven Davis and Till von Wachter.
If you go back before the television age, in the early half of the last century, if you lived ina small village you probably would never travel abroad, you'd probably never even travel to a big city more than once or twicein your lifetime.