Good point. Status seeking will always be with us. I think the relevant question is whether or not that status seeking takes place in the market or in some ot

Good point. Status seeking will always be with us. I think the relevant question is whether or not that status seeking takes place in the market or in some other social space. For example, by putting a cap on wages perhaps status-seeking could be redirected to non-market pursuits. I'm not saying that's a good idea, just an example of how policy can be used to redirect behavior away from markets into other areas of production. And one thing this article leaves out is the problem of non-market policies creating unintended consequences. It's easy to talk about regulating the market - it's hard to come up with effective policies that don't create results worse than the problems they're attempting to address.