whose sense of what's important in life seems close to our own.
This aspect of our spending is not new--competitive acquisition has long been an American institution. At the turn of the century, the rich consumed conspicuously. In the early post-World War II decades, Americans spent to keep up with the Joneses, using their possessions to make the statement that they were not failing in their careers. But in recent decades, the culture of spending has changed and intensified. In the old days, our neighbors…
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