A few months ago, my trusty old Seiko died and I found myself in the market for a new watch.  I ended up buying a  1,000,
1,000,  10,000 on a watch that does nothing more than my $100 Seiko?
10,000 on a watch that does nothing more than my $100 Seiko?
The answer, of course, is status. Thorstein Veblen got it right in his classic Theory of the Leisure Class:
Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.
And:
Since the consumption of these more excellent goods is an evidence of wealth, it becomes honorific; and conversely, the failure to consume in due quantity and quality becomes a mark of inferiority and demerit.
 
			

 28 for the paperback), and so did Gralgrathor, so I thought it would be nice to have a discussion thread for the book as we read it. Anyone is welcome to join in, of course, whether or not you are reading the book.
28 for the paperback), and so did Gralgrathor, so I thought it would be nice to have a discussion thread for the book as we read it. Anyone is welcome to join in, of course, whether or not you are reading the book.