Have you ever considered that each time you go out with a friend, you make at least one economic transaction which creates a flow of money. Friendship may be a personal connection, however it helps the economy in many unexpected ways.
While meeting up with friends we always tend to spend some money whether it's just a ₹15 ka cutting chai or a round of pani puri. Every time we spend money while we are out with our friends, we are in turn helping the local economy.
Many small business owners rely on word-of-mouth marketing and recommendations from friends to grow their customer base. Not to mention, social gatherings and events planned by groups of friends that often take place in local venues, such as restaurants, bars, or entertainment spots, provide a steady stream of revenue to these establishments. This kind of spending strengthens the local economy and keeps small businesses thriving.
A new study by Harvard economist Raj Chetty shows that community-level friendships across classes involving lower- and higher-income individuals, or economic connectedness, strongly increase the ability to help low-income children become upwardly mobile, also suggesting that cross-class line friendships help decrease economic inequality. So, the next time you grab a chai or indulge in pani puri with friends, remember: you're not just enjoying good company; you're also making a positive impact on your local economy and contributing to a brighter, more equitable future for all.
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