The new, subtle ways the rich signal their wealth

As traditional luxury goods, such as the iconic Louis Vuitton monogram bags or Chanel number 5, have become more widespread and attainable than in the past, the wealthy need alternative ways to signal their prestige and power.

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.

In an age of uneasy affluence, luxury is becoming less and less about collecting highly prized items and possessions. “Today we live in the age of conspicuous egalitarianism. The trick is to signal discernment while conveying everyman casualness.” The new lessons of luxury 👉 https://t.co/2kb5QMLsrL

We're a long way from post-scarcity, which means conspicuous consumption is still a reliable signal across many parts of the world, and in lower socioeconomic groups within rich countries. But it is weakening relative to other signals, especially among the type of people likely to be reading this book, and this trend will continue. As money becomes

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