Key points are not available for this paper at this time.
Robert Frank caused a national debate in 1995 when he and co-author Philip Cook described the poisonous spread of winner-take-all markets. Now he takes a thought-provoking look at the flip side of spreading inequality: as the super-rich set the pace, everyone else spends furiously in a competitive echo of wastefulness. Frank offers the first comprehensive and accessible summary of scientific evidence that our spending choices are not making us as happy and healthy as they could. Furthermore, he argues that human frailty is not at fault. The good news is that we can do something about it. We can make it harder for the super-rich to overspend, and capture our own competitive energy for the public good. Luxury Fever boldly offers a way to curb the excess and restore the true value of money.
Walker et al. (Thu,) studied this question.