OrnotBitwise
Watermelon
I read this article on the train this morning and actually laughed out loud. Embarrassing, that. Upon reflection, though, I find it more disheartening than funny.
I suppose that outrageous over-consumption is better for the rest of us than hoarding would be. At least they're "stimulating the economy," though how much good employment the luxury clothing industry generates is open to question.
Think, for a moment, about the "intrinsic value" the pundit from The Luxury Institute -- snicker -- is talking about. At first I dismissed it as stupidity: there is no such thing as intrinsic value outside of food, air and, possibly, shelter and sexual favors. Then I realized he wasn't talking about the value of the article itself at all . . . .
I suppose that outrageous over-consumption is better for the rest of us than hoarding would be. At least they're "stimulating the economy," though how much good employment the luxury clothing industry generates is open to question.
http://sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2007/03/15/BUGDROL38G35.DTLThere it is, hanging on a rack next to all the other clothes.
It's just a black T-shirt for women, nothing special. In fact, it looks quite ordinary. But the price tag on it can tell a different story -- both about the company that makes it and the person who buys it.
If you browse through Gap, you'll find that black T-shirt for $14.50 ($20 if you buy two). Go to H&M and sift through the piles and you can get one for only $7.90. Stroll across the glossy floors of Bloomingdale's and you'll find a simple black T-shirt in the Armani section of the store priced at $275.
Why such a wide discrepancy in price? It may just be that you get what you pay for. Or perhaps it's what you think you're paying for. In the case of Armani, it could simply be about status.
Milton Pedraza, chief executive of the Luxury Institute, a research company that focuses on the top 10 percent of the country's wealth, said some people are more able to justify spending $275 on a T-shirt than others.
"It may be incredibly wasteful to some people, but it makes you feel powerful," Pedraza said. "It makes you feel wealth. You're paying for that intrinsic value."
Think, for a moment, about the "intrinsic value" the pundit from The Luxury Institute -- snicker -- is talking about. At first I dismissed it as stupidity: there is no such thing as intrinsic value outside of food, air and, possibly, shelter and sexual favors. Then I realized he wasn't talking about the value of the article itself at all . . . .