Friday, July 30

Discreet Wealth

Analysis, Buying, Discreet Wealth, Economic Recovery, Economy, Happiness, Inconspicuous Consumption, Markets, Services, Shopping

If we all agreed to buy less stuff, we could be happier and work fewer hours

If you've spent any time thinking about post-pandemic fashion, you may know that the social media skirmishes over skinny jeans, side parts, cargo shorts, and Crocs, all add up to one thing: nothing is universally cool anymore. The decline of "cool," as mapped out by Vox's Safy-Hallan Farah, is another economic trend that the pandemic appears to have accelerated. Monoculture has been in decline for decades as the Internet facilitated diffuse subcultures, all with their own definition. Now, a year in quarantine has exploded the cultural consensus.That's a bigger deal than it sounds like.Modern consumers often signal class standing through what we wear, carry, and drive — and that's long been a source of economic growth. Consume...