Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
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Conspicuous Consumption and The Era of Excess // Book Summary of 'Luxury Fever' - Right Attitudes
Of course, no one needed embroidered handbags, silk-lined slippers or ice creams, but it was a blessing that they could be prompted by fashion to want them, for on the back of demand for such trifles workshops could be built, apprentices trained and hospitals funded. Rather than condemn recreational expenditure, as Christian moralists had done, Man
... See moreAlain De Botton • The School of Life: An Emotional Education
The consequence of more stuff available in the world and more money available in the world is that anything that’s rare and valuable becomes astronomically more expensive.
Paras Chopra • How money works - Inverted Passion
The “Veblen effect” was coined in 1950 by economist Harvey Leibenstein, who pointed out that consumer demand depended not only on the functional utility of goods but also on certain social factors: a desire to be “in style” (the “bandwagon effect”); a desire to stand out from the herd (the “snob effect”); and a desire for “conspicuous consumption,”
... See moreJan Chipchase • Hidden in Plain Sight: How to Create Extraordinary Products for Tomorrow's Customers
Diderot’s behavior is not uncommon. In fact, the tendency for one purchase to lead to another one has a name: the Diderot Effect. The Diderot Effect states that obtaining a new possession often creates a spiral of consumption that leads to additional purchases.