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Luxury Beliefs Are Status Symbols
When you define savings as the gap between your ego and your income you realize why many people with decent incomes save so little. It’s a daily struggle against instincts to extend your peacock feathers to their outermost limits and keep up with others doing the same. People with enduring personal finance success—not necessarily those with high in
... See moreMorgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Knowledge gives products value, and creates a divide between those in the know and those who neither have this Chanel jacket nor know that Vanessa Paradis wore it.
Ana Andjelic • The Business of Aspiration: How Social, Cultural, and Environmental Capital Changes Brands
strongest correlate of inequality was searches for luxury goods.
Keith Payne • The Broken Ladder: How Inequality Changes the Way We Think, Live and Die
Not long ago, wearing real fur was a signal of wealth and status. Now, it’s a signal of ignorance. In contrast, fake fur is inexpensive, but it displays status lent by awareness about climate crisis and importance of sustainability.