From conveying financial capital, luxury shifted to indicating cultural capital.

But today, because material goods have become a noisier signal of one’s social position and economic resources, the affluent have decoupled social status from goods, and re-attached it to beliefs.

Luxury beliefs are ideas and opinions that confer status on the upper class, while often inflicting costs on the lower classes.

It sounds a little silly, but making high earners feel better in just about every part of their lives will be a major source of job growth in the future. At some point it is hard to sell more physical stuff to high earners, yet there is usually just a bit more room to make them feel better. Better about the world. Better about themselves. Better ab

... See more