I really like this post since it shows how very little there is for the wealthy to buy other than status goods.
The life of the rich, other than status, is very much like the life of upper middle class. The same phones, the same digital entertainment, the same appliances in their homes.
We have very few items for the rich to buy. Honestly, it is a problem it breaks incentives and it drives the rich more towards status goods which help no one since they are zero sum.
We should have expensive products which actually improve lives.
The life of the rich, other than status, is very much like the life of upper middle class. The same phones, the same digital entertainment, the same appliances in their homes.
We have very few items for the rich to buy. Honestly, it is a problem it breaks incentives and it drives the rich more towards status goods which help no one since they are zero sum.
We should have expensive products which actually improve lives.