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https://kolektiva.social/@HeavenlyPossum/110559922043793089

HeavenlyPossum@kolektiva.social - There was a stretch when Elon Musk took over twitter and started charging for blue checks (lmao) and some of his sycophants started talking about “Veblen goods.”

A Veblen good is something for which demand increases as price increases, in contact to the neoclassical orthodoxy that demand decreases axiomatically with price.

Veblen goods are things that rich people buy to signal their wealth and status. Jewelry, fancy watches, yachts, Ivy League degrees. Things that cost many thousands or millions of dollars.

The idea that an $8 verification on twitter would ever be a status symbol for the rich was fucking ludicrous.

1/8

capitalism market business enshittification industry history thread Mastodon Reddit
June 18, 2023 at 10:57:34 AM GMT+2
https://kolektiva.social/@HeavenlyPossum/110559922043793089

Home | kbin.pub - Fediverse of content

/kbin is an open source reddit-like content aggregator and microblogging platform for the fediverse.

Create and moderate communities, meet people with similar interests, and develop your passions.

fediverse lemmy reddit activitypub php microblogging kbin
May 3, 2023 at 11:16:06 AM GMT+2*
https://kbin.pub/en
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