26 Feb '14, 5pm

How a Louis Vuitton bag can explain the higher education bubble

f you happen to have $31,500 lying around, you could buy a Louis Vuitton PM Showgirl handbag . Or you could spend almost exactly the same sum to pay for one year's worth of tuition (not including room and board) at an average American four-year private college . The handbag and the college degree have more in common than you might think. In America, the markets for luxury handbags and higher education both produce what are called "Veblen goods." More than a century ago, the sociologist Thorstein Veblen coined the term "conspicuous consumption" to describe the practice of buying luxury goods in order to display social status. In its purest form, conspicuous consumption involves purchasing expensive goods precisely because they are expensive, which means that the true conspicuous consumer will have what economists call an inverted demand curve. Normally, when the price of a ...

Full article: http://theweek.com/article/index/256872/how-a-louis-vuitt...

Tweets

How a Louis Vuitton bag can explain the higher ...

theweek.com 26 Feb '14, 7pm

f you happen to have $31,500 lying around, you could buy a Louis Vuitton PM Showgirl handbag . Or you could spend almost e...

$30B luggage fortune: Bernard Arnault explains success of Louis Vuitton

$30B luggage fortune: Bernard Arnault explains ...

edition.cnn.com 26 Feb '14, 2pm

Louis Vuitton has become synonymous with luxury travel through their now iconic monogrammed trunks. Forbes estimates the b...

Louis Vuitton UK Bags Sale Online For Cheap

pinteresthandbag.com 26 Feb '14, 9am

« Some Tips About How To Maintain Mulberry Bags Special Designer Brand Watches And Quality Wrist Watches Down Under » Loui...

What if the roles are reversed between the Gove...

is.asia-city.com 27 Feb '14, 5am

A controversial, thought-provoking short film has been lighting up the interwebs. “Oppressed Majority” takes place in an a...

On the Runway: At Louis Vuitton, Young Designer...

runway.blogs.nytimes.com 27 Feb '14, 6pm

Raf Simons, Anna Wintour and Nicolas Ghesquière at the Louis Vuitton headquarters. The designers Shane Gabier and Chris Pe...

At Louis Vuitton, Young Designers Have Stars in...

runway.blogs.nytimes.com 27 Feb '14, 6pm

Raf Simons, Anna Wintour and Nicolas Ghesquière at the Louis Vuitton headquarters. The designers Shane Gabier and Chris Pe...

Bag heaven from Louis Vuitton yesterday. #PFW @...

twitter.com 06 Mar '14, 7pm

To bring you Twitter, we and our partners use cookies on our and other websites. Cookies help personalize Twitter content,...

The New Louis Vuitton Bag Is Going To Be BIG (In A Tiny Way)

The New Louis Vuitton Bag Is Going To Be BIG (I...

refinery29.com 07 Mar '14, 7pm

In the world of handbags, the Speedy and the Neverfull are the Madonnas and Chers — bags so iconic they're known by just o...

Louis Vuitton's new bag is EVERYTHING—could it ...

harpersbazaar.com 05 Mar '14, 3pm

- Louis Vuitton's Petite-Malle only hit the runway this morning, but it's already the must-have bag for Fall 2014. [Telegr...

Nicholas Ghesquiere Is Not Giving Interviews Be...

fashionista.com 26 Feb '14, 3pm

When a new designer takes over a storied fashion house — something that seems to be happening a lot lately — there are man...

What S In My Louis Vuitton Palermo Pm Handbag P...

pinteresthandbag.com 24 Feb '14, 9pm

« MKors: Camel Coated « Sheer Embellished No Title » What S In My Louis Vuitton Palermo Pm Handbag Purse Review , Unomatch...

Louis Vuitton, Tesla, luxury stocks and luxury ...

luxurydaily.com 27 Feb '14, 7am

Louis Vuitton video still Today in luxury marketing: All eyes on Nicolas Ghesquière’s debut at Louis Vuitton Nicolas Ghesq...

The secret to Louis Vuitton's longevity: What's the secret to longtime luxury brand Louis Vutton's success. CN...

The secret to Louis Vuitton's longevity: What's...

edition.cnn.com 26 Feb '14, 3am

The secret to Louis Vuitton's longevity What's the secret to longtime luxury brand Louis Vutton's success. CNN's Isa Soare...