"We are in the content consumption business," he said.
After more than a year, J-PAL surveyed nearly seven thousand households, measuring consumption, business income, standards of education, and markers of health and women's empowerment.
Indeed, in a world that celebrates individualism and freedom, many people decide to watch, wear or listen to exactly the same things as everybody else.When less is moreIn small corners of the temples of consumption, business has begun to wake up to the perils of excess choice.
"Ten years from now, we will be in the content consumption business, in unified communications.
"We can either let the system evolve the way it evolves — I think that's a great consumption business.
The reason is that the Bank will need to maintain momentum in household consumption, business investment and construction, in the expected absence of strong demand for British goods and services from abroad.
Job and wage cuts boost profits, but they also dampen consumption, as businesses claw back a bigger share of national income.
He also raised taxes on consumer goods, consumption and businesses.
However, consumption driven businesses like Blockbuster, which fought a losing battle against online streaming until its closure in December last year, might not regard the Internet so highly.
