Ofcourse you are right. Its a veblen good. Read up Conspicuos Consumption. The plebs cant buy super yatches or formula 1 teams to signal Status (ie check me ou

Ofcourse you are right. Its a veblen good. Read up Conspicuos Consumption. The plebs cant buy super yatches or formula 1 teams to signal Status (ie check me out, I have resourced to squander, so who do you want to hang out? with me or someone who doesnt have resources to squander?) So they buy shit like iphones. Its within the credit card limits of the plebs with status cravings. Veblen would say status signalling is a massive misallocation of the econimies resources, and a good technologist is one reduces economic waste. I mean get people as crazy about poor infra outside their homes or in their hospitals and schools instead this type of stuff.