Blog
Status Races and Birthday Parties
Geoff Riley
16th June 2009
Over at the Business Studies blog Tom White has a super piece about rising spending levels for birthday parties and other celebrations. It is a clear example of status races and the rising demand for positional goods - I wrote about this a few days ago when reporting on the Bob Frank lecture at the RSA. If we all cut our spending on such celebrations by say twenty per cent would we be any worse off?
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.