New paper / An Economy Based on Social Status / 18.02.2014

An economy based on social status will always be prone to crisis

Here is a question: how can it be that everyone has free and independent choice and yet we largely converge on exactly the same things? That’s neither original nor independent.

Despite economic growth giving people increased opportunities for “self-realisation” in whichever direction they choose, desires have still converged towards the same trends: extravagant sports cars, expensive watches, high-end apparel, brand labels, designer kitchens and other accessories.

Read the rest of the article on The Conversation