Because the linked-to study simply says “conspicuous consumption has negative externalities” and the conclusion given is “Avoid Conspicuous Consumption.” I call foul.
‘positional goods’ which, by definition, cannot be augmented, because they rely solely on not being available to others.
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… the production of positional goods in the form of luxuries, such as exceedingly expensive watches or yachts, is a waste of productive resources, as overall happiness is thereby decreased rather than increased.
^ This is specific to wealth and cannot (necessarily) be said of other forms of status, such as fitness.
Because the linked-to study simply says “conspicuous consumption has negative externalities” and the conclusion given is “Avoid Conspicuous Consumption.” I call foul.
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^ This is specific to wealth and cannot (necessarily) be said of other forms of status, such as fitness.