Perhaps (though I've seen disputes of that), but since we're talking about a Western, Educated, Industrialized, Rich, Democracy country's history, it still is n

Perhaps (though I've seen disputes of that), but since we're talking about a Western, Educated, Industrialized, Rich, Democracy country's history, it still is not an explanation for why this generation's elite's children would be pretending they're poor, instead of showing off their status with conspicuous consumption (as many previous generations have).