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Defining a namespace for a problem class isn't the same as giving an answer to why the problem class exists.
by yifanl 6y ago
Defining a namespace for a problem class isn't the same as giving an answer to why the problem class exists.
- reissbaker 6y agoI don't think the point of mentioning Veblen goods was defining a namespace. The point is that this is such well-covered ground in economic theory that there's actually a name for it. The Wikipedia link is presumably a pointer to where you can start reading more answers about these questions (e.g. conspicuous consumption for social status).