Conspicuous Consumption, Arms Races and the Needy
Posted in Paternalism, Price System, You Can't Have it Both Ways on Nov 26th, 2010
Bob Frank was a professor of mine in graduate school at Cornell. He is perhaps most well known for his argument in favor of a progressive consumption and income tax. Why? He argues that much of the consumption of goods by the rich (and perhaps middle class too) takes place over status competition and “positional” […]
