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Rise of discreet wealth mirrors increase in education, health costs

AFP Contributor/Getty Images Services in health care and education have increased in price by over 100% in the past 20 years, per an AEI chart. Meanwhile, consumer goods like new cars, clothing, and TVs have become way more affordable. The split between the two mirrors the rise in discreet wealth, in which immaterial means have become status symbols. Showing off wealth is no longer the way to signify having wealth. Flashing a Louis Vuitton handbag or a multimillion...
United States A Louis Vuitton Elizabeth Currid Halkett Thorstein Veblen Mark Perry American Enterprise Institute

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