Tag Archives: Veblen Good

College Admission As A Positional Good

Is that a drawbridge they could could pull up once they’re inside? (Thor Swift for The New York Times) From the NYT: Best, Brightest and Rejected: Elite Colleges Turn Away Up to 95% The U.S. college admissions racket spun itself up … Continue reading

Posted in Culture Matters, Economics, Education, Positional Good, The One Percent, Veblen Good | Tagged , , , , | Leave a comment

Not The Best Pocket Watch 340,000 Swiss Francs Can Buy

Time doesn’t exist. Clocks exist. From Digg:  Why Does This Pocket Watch Cost $400,000? This is an appealing pocket watch, but I have a few concerns: It has an “Oil Change” indicator on the back, reminding you to get it … Continue reading

Posted in Economics, Positional Good, Pricing, Technology, The One Percent, Veblen Good | Tagged , , , , , , , | Leave a comment