Inconspicuous Consumption
University of Chicago economists Kerwin Kofi Charles and Erik Hurst… along with Nikolai Roussanov of the University of Pennsylvania… found… insight into the economic differences between racial groups… [that] challenges common assumptions about luxury. Conspicuous consumption, this research suggests, is not an unambiguous signal of personal affluence. It’s a sign of belonging to a relatively poor group. Visible luxury thus serves less to establish … [ Read more ]
Author: Virginia Postrel | Source: The Atlantic (July2008) | Subjects: Articles & Links, Culture, Demographics, Economics | Economy, Excerpts