Re:America's 1% Has Taken $50T From the Bottom 90%
by biztos on Thursday February 11, 2021 @09:49PM
(#26110239)
I have an iPhone because it is (for my needs) a better machine. I wear Nike running shoes because they fit me well and that gets me a safer workout.
Some things have functional advantages even if they also signal status. The working class has at least as much need for functionality as anyone else. A $400 phone vs a $200 one could easily be more useful to a poorer person than a richer one. Same with $100 vs $25 shoes.
My Seiko tells time as well as a Rolex (though not as well as an even cheaper quartz watch would). But even here, where status is definitely a factor, it’s not like the Rolex has no additional value: it has resale value, and aesthetic value.
Some things have functional advantages even if they also signal status. The working class has at least as much need for functionality as anyone else. A $400 phone vs a $200 one could easily be more useful to a poorer person than a richer one. Same with $100 vs $25 shoes.
My Seiko tells time as well as a Rolex (though not as well as an even cheaper quartz watch would). But even here, where status is definitely a factor, it’s not like the Rolex has no additional value: it has resale value, and aesthetic value.