David Graeber’s new book Bullshit Jobs strongly recalls Thorstein Veblen’s classic The Theory of the Leisure Class. In the latter book, the concept of conspicuous consumption was first brought out ...

Ask a Filipino millennial or Gen Z-er what “Black Friday” is, and they will probably say that it is practically synonymous with shopping. Black Friday is indeed tied to shopping. It falls on the day ...

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When George W. Bush took office in January 2001, the economy was producing roughly $10 trillion worth of output annually. This year, it looks like production will be in the neighborhood of $13.5 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Buckle up, everyone; this post is going to be a long one. Today, I wanted to discuss the matter of conspicuous consumption: the art of spending relatively large sums of money on luxury goods. When you ...