In this thought-provoking analysis of the economics of personal decisions, Robert Frank chronicles the new boom of conspicuous consumption and exposes the hidden prices paid for ever more elaborate houses, cars and lifestyles. He explains how a simple change in incentives would lead to a longer, healthier and more satisfying life.
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Why, against all good reason, do we continue to accelerate our spending to the limits of our bank accounts? As the Western nations struggle, with personal bankruptcy at an all time high, the chase after the 'biggest and latest' continues to escalate. In this thought-provoking analysis of the economics of personal decisions, Robert Frank chronicles the new boom of conspicuous consumption and exposes the hidden prices we pay for ever more elaborate houses, cars and lifestyles.
In LUXURY FEVER, Frank argues that our current profligacy is not because we are foolish, undisciplined, greedy, or manipulated. Rather, how we feel about our material goods is entirely dependant on everyone else's spending. By acting together, we can choose to invest more in the sleep, exercise, family time, and less conspicuous consumption that makes life worthwhile.
Robert Frank is Goldwyn Smith Professor of Economics, Ethics, and Public Policy at Cornell University. He is also the author of THE WINNER TAKE ALL SOCIETY, 002 8740343, also available from Simon & Schuster UK.
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