The Diminishing Returns of Having Good Taste

Admittedly, an increased difficulty in impressing friends with neat tips and trivia hardly constitutes a social crisis. And perhaps benefiting from closely kept secrets was too easy in the past, anyway: In my Punch-Out example, I gained a disproportionately large amount of esteem for something that required very little effort or skill. But when the... See more

the internet’s sprawling databases, real-time social-media networks, and globe-spanning e-commerce platforms have made almost everything immediately searchable, knowable, or purchasable—curbing the social value of sharing new things. Cultural arbitrage now happens so frequently and rapidly as to be nearly undetectable, usually with no extraordinary... See more