same is true with time; hobbies might be a lot about signaling wealth (“I’m so rich I can do non-productive activities”); retiring early actually sounds like a good signaling mechanism for this; retiring early likely(??) have better externalities than conspicuous consumptions, but ideally you would want people to be able to fully signal their wealth at 0 cost (whether time or monetary), and so retiring early for signaling purposes still seems to have a negative externality
another way to signal wealth might be by having a lot of children; and that one seems like it has positive externalities, and so removing the need for signaling wealth might reduce number of children
I’d like to see studies on how having your wealth publicly known changes those factors
same is true with time; hobbies might be a lot about signaling wealth (“I’m so rich I can do non-productive activities”); retiring early actually sounds like a good signaling mechanism for this; retiring early likely(??) have better externalities than conspicuous consumptions, but ideally you would want people to be able to fully signal their wealth at 0 cost (whether time or monetary), and so retiring early for signaling purposes still seems to have a negative externality
another way to signal wealth might be by having a lot of children; and that one seems like it has positive externalities, and so removing the need for signaling wealth might reduce number of children
I’d like to see studies on how having your wealth publicly known changes those factors