To understand the consumption behavior of households, we clearly need to get back to studying Humans rather than Econs. Humans do not have the brains of Einstein (or Barro), nor do they have the self-control of an ascetic Buddhist monk. Rather, they have passions, faulty telescopes, treat various pots of wealth quite differently, and can be influenced by short-run returns in the stock market. We need a model of these kinds of Humans. My favorite version of such a model is the subject of the next chapter.
