I'll start discussing Geoffrey Miller's new book Spent soon. But first let me review its main predecessor: Robert Frank's book Luxury Fever, from 2000. Miller on Frank:
Frank begins Luxury Fever complaining about $5000 barbecue grills, whose main purpose he presumes is to show off how much money its owners can spend. Frank wants to discourage "conspicuous" rather than "inconspicuous" consumption:
The degree to which workers enjoy autonomy and choice with respect to which tasks they do and the manner in which they perform them. … Workers tend to find greater satisfaction in jobs that provide greater opportunities to make use of their skills. … Job satisfaction increases with the variety of tasks workers are called on to perform. … If pay were the same, people would choose safe jobs over risky ones, quiet jobs over noisy ones; jobs with convenient parking over those without; jobs with security over those without; and so on.
What … I call "inconspicuous consumption" – freedom from traffic congestion, time with family and friends, vacation time, and a variety of favorable job characteristics. In each of the examples discussed, the evidence suggests that subjective well-being will be higher in the society with a greater balance of inconspicuous consumption.
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