With the Biden Administration taking us to a $400,000 threshold for higher taxes, deciding who is rich has become a legislative debate.
Why Do the Rich Believe They Became Rich?
A recent study provides insight about income inequality by asking if we believe financial success comes from our own effort or the environment.
The Pricey Purse That Created a Problem
When Hermes combined very high prices with limited availability for its Birkin bags, it not only generated conspicuous consumption but also a problem.
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 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.
