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Sera's avatar

You’ve done well today. It all takes me back to, (I think) Thoreau: “A person is rich in proportion to the things they can live without.”

Somewhere on Substack yesterday was a quote from Joseph Heller about a billionaire: “I have something he’ll never have. Enough.”

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Tim Almond's avatar

There's a load of the economy now that is about status. We went from working hard to prevent starvation, to working hard to have nicer things. Now, there's really a fractional difference between what most people can afford and the expensive stuff.

If you want to watch a Taylor Swift concert, it's $15 to get Disney+ and watch it. A good handbag is about $100. Why does a Hermes bag cost $1000? Or $95000 for Taylor Swift tickets? It's not because of some huge 10x multiple improvement in intrinsic quality. The Hermes bag is not made of mithril and vibranium. It's purely so you can say "look, I have a Hermes bag".

I'm not saying it's good being poor. But that nowadays, so much intrinsically good stuff isn't that expensive. Cheap clothes and cars used to be poorly made but they aren't now. Cheap phones are really as good as iPhones.

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