As in previous eras, there is today a division of labour between the elite and the masses. In medieval Europe, aristocrats spent their money carelessly on extravagant luxuries, whereas peasants lived frugally, minding every penny. Today, the tables have turned. The rich take great care managing their assets and investments, while the less well heel

After a certain point, the only people still playing the conspicuous consumption game will be those for whom it is still a useful signal—lower socioeconomic groups, people in developing countries—and those who don't have other dimensions on which they're able to compete. In other words, it will quite literally be a poor man's game.