The travails of the megawealthy

by Rob Horning

5 June 2008

 

When you read the New York Times Styles Section, you get what’s coming to you. I learned this lesson yet again when I encountered this gem of a story. The headline sums it up well: “It’s Not So Easy Being Less Rich.” It’s about how the supermegawealthy are concerned about becoming merely megawealthy, and it is worth remembering when someone wants to discount Veblenesque approaches to understanding social behavior.

Is the conspicuous consumption and invidious comparison animating this article supposed to make us feel better or worse about being among the anonymous middle? And is it endemic to that strata discussed or simply manufactured through selective anecdote for the purposes of the article, which has other ideological fish to fry. After all, promulgating the notion that conspicuous consumption is a pervasive preoccupation makes good business sense for the fashion pages.

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