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I think when you say "luxury goods" you mean to say Veblen Goods, which are about signaling wealth or status through the purchase of a particular brand. When th
by whatisthiseven 2y ago
I think when you say "luxury goods" you mean to say Veblen Goods, which are about signaling wealth or status through the purchase of a particular brand. When the functions of a good are divorced from its price and the brand is what defines "the luxury", it ceases to signal quality and instead is a signal all its own.
- JumpCrisscross 2y ago> when you say "luxury goods" you mean to say Veblen Goods, which are about signaling wealth or status through the purchase of a particular brand No, I mean luxury good. I upgraded my phone for satellite-based emergency SOS and the titanium form factor. Those are luxuries. Same for my 2020 Mac and M1. Apple’s products aren’t priced high enough to function as Veblen goods in most developed-country social circles. They’re a mass market product.