The new, subtle ways the rich signal their wealth

My claim is that luxury goods are gradually becoming a noisier signal of one's position in society. This isn't to say that they don't still confer status — they clearly do. People still buy material items to signal their status. But because they've become a noisier signal over time, people are starting to signal their status with their beliefs and ... See more

But today, because material goods have become a noisier signal of one’s social position and economic resources, the affluent have decoupled social status from goods, and re-attached it to beliefs.

We tend to think of status symbols starting at the top tiers of society (among the glitterati and trend setters of high society) and then trickling down to the rest of society. But a new trend seems to contradict this pattern. Instead of adopting a new luxury product or embracing fresh high-end tastes, an increasing number of prestigious brands and... See more