Word: consumptionism
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Also, it's easier to justify a $100 yoga mat than a lot of other expenses. "With hedonic consumption, at some point you're going to feel quite a bit of guilt," says C.W. Park, a marketing professor at USC's Marshall School of Business and editor of the Journal...
While oil revenues were flowing, sovereign wealth funds acquired foreign assets with the flair of peacocks. The humility that typified the past was supplanted by conspicuous consumption. Yes, all that infrastructure and new property that was built still exists - but its quality and engineering is, in many cases, dubious. (See...
2. On the futility of consumer capitalism: "We take wondrously adaptive capacities for human self-display - language, intelligence, kindness, creativity, and beauty - and then forget how to use them in making friends, attracting mates and gaining prestige. Instead, we rely on goods and services acquired through education, work and consumption...
The Lowdown: Like Sigmund Freud, Miller sees sex everywhere; all our acquisitions of personal goods, according to Miller, are motivated by the primal desire for procreation, pleasure or both. Though he advocates abolishing income taxes in favor of a "consumption tax" and learning to buy secondhand, he isn't a...
In these difficult economic times, rich shoppers with cash to burn have been forced to ditch their Prada or Saks bags after long days of binge buying. But concealing conspicuous consumption is getting old. The solution, as always: the Internet. Where else can consumers buy outrageously priced crap without anyone...