Where Prada is Called Ordinary

Purchasing less expensive luxury goods like Prada and Louis Vuitton, China’s growing middle class displays Thorstein Veblen’s conspicuous consumption.

Elasticity: Eating More Meat

Earning more probably means eating more meat. Chinese meat consumption surpassed the US in 1990. Their 7-fold increase since 1980 corresponds to a huge GDP pop–maybe by a 50 multiple. One Australian economist hypothesizes that when an economy doubles, people eat 15%…

Gender Issues: Pricey Prom

By Lilli DeBode, guest blogger and senior at Kent Place School Spring is in the air! The snow has melted, the birds are chirping, and the flowers are blooming. And every family with a high schooler knows what that means……

The GDP: A Prettier Sister

GDP, move over. Thanks to our nation’s obsession with physical beauty, there’s a new way to check the vitality of our economy. How? By looking at the number of cosmetic surgeries done annually. It makes sense that this would be…