Worried that someone might poison his
Where are we going? To how people signal their wealth.
A Rare Fish
You might have been eating the
During its recent history, the Asian
You get the picture. As the fish became increasingly scarce, their price and allure rose. In Asia especially, if you have an
Our Bottom Line: Signaling
Thorstein Veblen could have further told us why people were buying their Asian
A 1934 painting of Veblen:
As he explained, the more affluent we become, the less productive our behavior. Wealthy people have servants to wash, to clean, and to cook for them. They spend their time engaged in sports and politics. They surround themselves with jewels, with cars, with art…
And with Asian
My sources and more: Told yesterday by the NY Times and in 2016 by the NY Post, the story of the
Today’s featured picture is the
Also, please note that the description of Thorstein Veblen is a brief excerpt from the first edition of Econ 101 1/2.
Ideal for the classroom, econlife.com reflects Elaine Schwartz’s work as a teacher and a writer. As a teacher at the Kent Place School in Summit, NJ, she’s been an Endowed Chair in Economics and chaired the history department. She’s developed curricula, was a featured teacher in the Annenberg/CPB video project “The Economics Classroom,” and has written several books including Econ 101 ½ (Avon Books/Harper Collins). You can get