Title: Frugality Then and Now
Subtitle: A New Investigation Into One of the Oldest Virtues
Subject Classification:  Economics and Finance, Sociology, Philosophy  
BIC Classification: KC, JF, HPQ
BISAC Classification: BUS016000, SOC026000, PHI005000
Binding: Hardback, eBook
Planned publication date: Aug 2026
ISBN (Hardback): 978-1-83711-466-5
ISBN (eBook): 978-1-83711-467-2

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Description

On April 2, 2025, President Donald J. Trump announced the greatest tariff hike since the 1930 Smoot-Hawley Tariff Act which caused a global trade war and worsened the Great Depression.

It is regrettable that the Trump administration did not study history and learn the economic lessons of Smoot-Hawley. Nevertheless, history shows that many consumers from the Great Depression learned to cope with the utterly bleak economy by embracing frugality and teaching their children about the benefits of frugal behavior. Regrettably, not every generation or segment of consumers prize and practice frugality. However, given the difficulties in the economy at present, and how long this is expected to last, the notion of frugality is more important than it has ever been.

The goal of this book is to spur renewed interest in the topic of frugality and a new understanding and appreciation of it. Early chapters of the book review philosophical and religious accounts of the concept of frugality. These accounts tie frugality to ethicality. Next, the author focuses on psychological research on frugality as a distinct personality trait involving specific mental operations, some of which are used less now than in the past (e.g., willingness to make tradeoffs). Later chapters review the influence of sociological variables (e.g., generational cohort, social class, and family) on the inculcation of frugality. Last, the book addresses new obstacles that consumers face in today’s marketplace, and how consumers can practice frugality in spite of them.

Biography

Author(s):  Aimee Drolet is a professor in the Anderson School of Management, University of California Los Angeles (UCLA), USA.

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