When the price of most types of products goes up, demand for them tightens. Except for a couple of special cases.

The elitist Biden and Harris advisors bought into the false Trump economic narrative rather than confidently and clearly ...

Luxury goods cost a lot more these days, with no improvement in quality to make up for it. Weak sales look like a more ...

Legendary novelist John Dos Passos tells the story of economist Thorstein Veblen, the outspoken Progressive Era critic of capitalism who coined the phrase “conspicuous consumption.” ...

“Nothing is more hateful than old age.” (Erasmus of Rotterdam) This population sector is located in what Thorstein Veblen ...

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For starters, luxury watch prices often aren’t based on fabrication costs. These are veblen goods, and you pay for an ...

In the past, people displayed their membership in the upper class with their material accouterments. As the economist and sociologist Thorstein Veblen famously observed in his 1899 book “The Theory of ...

Baruchello, Giorgio 2013. David Reisman, The Social Economics of Thorstein Veblen (Cheltenham and Northampton, MA: Edward Elgar, 2012), pp. viii, 338, $150.00 ...

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Does this oft-maligned human behavior offering us anything other than the opportunity to show off? Here's what the research says.

And they do so for very different reasons. Meet Veblen and Giffen goods, the products that“break the rules”. Normal goods can be further divided into two types: necessity goods and luxury goods.