Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
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Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
Someone who wastes time and money on expensive luxury goods and hobbies sends an unambiguous signal: I have the wealth to afford these pointless things. I am an elite. In such cases, even fundamental laws of supply and demand break down. The high price of a luxury product is the point. If it becomes cheaper, people will buy less of it.
Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.