The Inconspicuous Consumption That Shouts Your Wealth

The average American has access to the types of consumer goods that only the wealthy used to buy. We can purchase a pricey iPhone or watch Netflix on a massive home TV screen. We eat steak, enjoy ahi tuna, and…

How Your Whisky Can Signal Your Wealth

When one bottle of single malt Macallan whisky sells for more than $1 million, we can ask if it was superior taste or some other reason.

How Your Fish Can Signal Your Wealth

By purchasing an adult fish for thousands of dollars, the buyers of an Asian arowana were engaging in conspicuous consumption.

Why We Buy Our iPhones

With its newest and priciest product launch, Apple has made iPhone conspicuous consumption the reason to buy their phone.

Surprising Culinary Status Symbols

Including celery and pineapples, past and present culinary status symbols are examples of foods preferred by an elite group.

Throwback Thursday: Looking Back at the Tiffany Brand

Shifting from Audrey Hepburn elegance to Lady Gaga, the Tiffany brand has a new face to market its luxury image and its Veblen goods.

The Surprising Consequences of Taxing Bagels and Windows

By changing our homes and our cream cheese purchases, taxes on bagels and windows can have unintended consequences when they distort our behavior.

The First Aspirational Shopper

As the early 20th century interior decorator who rejected Victorian design, Elsie de Wolfe also created the first group of aspirational shoppers.

How Your Lawn is About More Than Grass

Nothing but grass, lawns began as conspicuous consumption from the English and French aristocracy and now are a middle class manicured status symbol.

What Golf in China Shows About Economic Development

On a ladder of spending in developing economies, growing affluence first means wheat and meat. Then, climbing somewhat higher, people can afford consumer durables like a washing machine and a car. On a Chinese spending ladder, we could add golf. But it is a…