2007-11-19 07:05:10 · 6 answers · asked by Anonymous in Social Science ➔ Economics
You should read "The Millionaire Next Door". It describes in depth about independent research that found that people that spend lots of money typically aren't wealthy (financially), and those that are wealth typically don't spend it. Also the vast majority of millionaires are independently wealthy and have accumulated that wealth on their own and in their lifetime. The most likely vehicle a millionaire drives is a Ford F-150 and most wear a watch that cost less than $200. Millionaires are far more likely to drink Budweiser than champagne, and are most likely of a "blue collar" background. They own one modest home, they rarely use credit, they encourage their children to go to college. These are not the people we see on TV or in magazines. Typically, wealthy people are frugal and hard working and average and boring.
2007-11-19 07:35:21 · answer #1 · answered by brpinard 2 · 1⤊ 0⤋
Read up on Veblen's "Theory of the Leisure Class" from an economical standpoint.
Basically, Leisure and the Leisure class has an actual role in society, and for the economy. Examples would be hollywood stars paying severly large amounts of money on a simple dress... and kings of the past that would have their clothes purple because purple dye was extremely expensive in the times being referred to.
2007-11-19 19:42:37 · answer #2 · answered by Nep 6 · 1⤊ 0⤋
Could you be more specific ? If you are poor , you buy a fish bowl , if you are rich you buy a gold plated shark tank, they are both a "waste" in a sense .
2007-11-19 15:24:05 · answer #3 · answered by Anonymous · 0⤊ 1⤋
that is what is economics baby
2007-11-19 17:16:23 · answer #4 · answered by Anonymous · 1⤊ 0⤋
b/c it is fun for them.
2007-11-19 17:56:45 · answer #5 · answered by Anonymous · 0⤊ 1⤋
"Let them eat cake"
2007-11-19 15:07:59 · answer #6 · answered by Giggly Giraffe 7 · 0⤊ 1⤋