Contemporary Society And The Neoclassical Theory Of Consumption

Abstract: 5 pages in length. The neoclassical theory of consumption is alive and well in contemporary society. Within the secluded boundaries of wealth, purchasing expensive items for no other reason than because they can be afforded represents the distinction between wealth and middle-class, which by today's standards equates to rich and poor. That the jewelry industry has revamped its presentation in order to cater more directly to the moneyed set speaks to the nature of capitalism and how wealth begets power, which begets status and preferential treatment. At the other end of the spectrum resides a much less demonstrative crowd when it comes to displaying their buying prowess. Completely content to shop the secondhand market, outlet buyers are not interested in following the affluent circle when it comes to finding priceless treasures

---

Catagory: Race, Politics & Society

Subcatagory: Sociology, Social Work, & Counseling

---