Nye writes more on Status Signals: “because the West is much richer, positional

http://www.econlib.org/library/Columns/Nyepositional.htmlJohn Nye writes more on Status Signals: “because the West is much richer, positional or status goods are consequently more important. The struggle over status goods can be masked when you have rapid growth and a lot of mobility. But ultimately, middle and upper middle class people DO care more about health care, location of housing, and elite schooling than poorer people. “

In marketing, advertising and politics, social signaling matters. Now, my argument is that it’s impossible to have a complex society without social signals. So my argument is that social signals are NECESSARY. Just like money and numbers are necessary. Because we would would literally not be able to THINK if we didn’t have status signals. Just like we wouldn’t be able to THINK if we didn’t have prices.