Veblen described the phenomena in "The Theory Of The Leisure Class" 1899. In 2024 it's the phenomena where a person living in a 4,000 sq.' home with a three car garage, a boat and a $200,000 Motorhome, thinks the economy is bad because Def went up by a quarter.true.. if one bases a recreation on economics, then no one would own an RV..
just like the guy that buys a $250,000 boat to fish 10 times a year..
we all know it's about the experience..
If conspicuous consumption weren't a thing no one would buy a $100,000 electric pickup truck that will do everything except what pickup trucks do.