Luxury Fever - Why Money Fails to Satisfy in an Era of Excess (Electronic book text)

Why, against all good reason, do we continue to accelerate our spending to the limits of our bank accounts? Our savings rates are lower than those of any other major industrial nation, personal bankruptcy filings are at an all-time high, and yet our treadmill chase after the "biggest and latest" continues to escalate. In this thought-provoking analysis of the economics of our personal decisions, Robert Frank chronicles the new boom of conspicuous consumption and exposes the hidden prices we pay for evermore-elaborate houses, cars, and lifestyles. In Luxury Fever, Frank argues that our current profligacy is not because we are foolish, undisciplined, greedy, or manipulated. Rather, how we feel about our material goods is entirely dependent on everyone else's spending. By acting together, we can choose to invest more in the sleep, exercise, family time, and less conspicuous consumption that makes life worthwhile. This book will make all readers reconsider their spending habits, and will inspire wide debate about the quality of life.