The political economy of status

the long version

"In this timely books, Theodore Koutsobinas explores the system of status markets and their social effects including inequality. He explains how media fascination with superstars and luxury consumption goods amplify positional concerns for all, distort aspirations of the middle class and cause relative deprivation. Building on themes first identified by Veblen and Galbraith, the author analyses extensively the behavioural evidence from modern interdisciplinary research and contributes constructively to a new genre of economic analysis. The Political Economy of Status compels us to seriously consider redistributive culture change policies targeted to assist the underprivileged. This book will be a valuable resource for academics in various fields including economic theory, political economy, sociology, social psychology and cultural studies" --Back cover.