In today's installment of our mental models catalog, we are going to discuss Veblen goods, which are a special type of item that would appear, at first glance, to violate the law of supply and demand relationships to prices. Veblen goods are a type of commodity, product or service for which demand increases the higher the price climbs because buying a Veblen good is seen as a status symbol, giving the purchaser social cachet. For example, a $10,000 Birkin bag from Hermès is attractive … [Read more...]
Thoughts on Business, Politics, and Life from a Private Investor
Most Recent Posts
Buying Quality Furniture Can Save You Money In the Long Run
This blog is a way for me to pass along some of the stuff I learn on the journey and the past year has taught me a lot about furniture, furniture buying, and what constitutes quality furniture. Tying that into our usual discussion of economics and finance, I think it provides a lot of valuable [...]
The Ramifications of Globalization Through the Eyes of the Domestic Furniture Market
I’ve been thinking a lot about free trade, labor unions, American manufacturing, and free markets for the past few weeks. You know that, on the whole, American manufacturing is still as strong as it was in 1960. We still produce roughly $20 out of every $100 of world goods. The difference? Technology and, to [...]
Reducing My Technological Footprint
Though the home renovations have gotten the most headlines due to their nature (constant onslaught of choices and tasks that need to be completed), one of the most important items on the agenda of the six-month project has been to drastically reduce my digital footprint. By the end of the program, I will have one personal presence [...]
Lunch Scholars – How Much Do High School Students Know?
This makes me sick. This high school is ranked in top 5% of high schools in the United States. The worst part of the video for me was the part where the kid says, “I was never taught that knowledge”. It’s not somebody else’s job to teach you, it is your job to seek out [...]
Mail Bag – A Message from Ms. Roxanne
This is a great way to start the day … one of the reasons I love writing this blog. Joshua, [In American Households Continue to Deleverage But That Only Tells Part of the Story, you wrote] “The numbers are just figures on a sheet trying to explain human behavior. Study the behavior, what is driving [...]
About Joshua Kennon
I'm a private investor who loves architecture, furniture, clothes, history, philosophy, books, cooking, and music as much as I do finance. Continue reading ...
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