INCONSPICUOUS CONSUMPTION: Virginia Postrel offers a new theory of the leisure class. “Given that the richer your group, the less flashy spending youâ€™ll do, conspicuous consumption isnâ€™t a universal phenomenon. Itâ€™s a development phase. It declines as countries, regions, or distinct groups get richer.” And among today’s wealthy: “Their primary luxuries are time and attention. “
InstaPundit is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.