Treatflation
Prelims:
Economy,
social issues
Mains:
GS
Paper I-Indian Society, GS Paper III-Indian Economy
Current relevance:
The concept of "Treatflation" has
gained attention in recent times, it is the hidden financial burden of
recurring workplace celebrations.
Highlights:
1.
Treatflation:
It is a
combination of the words "Treat" and "Inflation",
referring to the cumulative financial burden of recurring workplace and
social celebrations through frequent small monetary contributions.
2.
Financial Impact:
(i)
Employees frequent small expenses create a hidden
financial leak.
(ii)
It will reduce the household savings, Investment
potential, Long-term wealth creation.
(iii)
It reflects how social behaviour influences economic
decision-making.
3.
Psychological Perspective:
(i)
It is driven by Normative Social Influence, where
individuals conform to group expectations to gain social acceptance and avoid
exclusion.
(ii)
Individuals contribute voluntarily, often due to peer
pressure and the desire to belong, rather than necessity.
Source: THE HINDU - https://www.thehindu.com/business/treatflation-the-invisible-ghost-in-office-culture/article71157614.ece