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On Luxury Beliefs

On Luxury Beliefs

I read a fascinating article recently comparing so-called ‘luxury beliefs’ to Veblen goods. The definition is as follows: ” Luxury beliefs are ideas and opinions that confer status on the rich at very little cost, while taking a toll on the lower class.” I’d always considered that luxury beliefs were adopted simply because they sounded nice, allowing the rich (here including the middle classes) to adopt unrealistic ideas that salved their conscience while ignoring the heavy cost that was paid…

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