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Essay / Research Paper Abstract
5 pages in length. The neoclassical theory of consumption is alive and well in contemporary society. Within the secluded boundaries of wealth, purchasing expensive items for no other reason than because they can be afforded represents the distinction between wealth and middle-class, which by today's standards equates to rich and poor. That the jewelry industry has revamped its presentation in order to cater more directly to the moneyed set speaks to the nature of capitalism and how wealth begets power, which begets status and preferential treatment. At the other end of the spectrum resides a much less demonstrative crowd when it comes to displaying their buying prowess. Completely content to shop the secondhand market, outlet buyers are not interested in following the affluent circle when it comes to finding priceless treasures – nor can they afford to. Eschewing the neoclassical theory of consumption, these shoppers prefer to hone in their purchasing talents on leftover styles that were all the rage last season in exchange for a handful of savings. The writer discusses the diversity of these two situations. No bibliography.
Page Count:
5 pages (~225 words per page)
File: LM1_TLCneocl.rtf
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Unformatted sample text from the term paper:
be afforded represents the distinction between wealth and middle-class, which by todays standards equates to rich and poor. That the jewelry industry has revamped its presentation in order to
cater more directly to the moneyed set speaks to the nature of capitalism and how wealth begets power, which begets status and preferential treatment. "The face of the British
jewellery buyer has changed dramatically. He or she is no longer just old money and getting on in years. The rich are getting richer, younger and more self-assured.
They encompass the City, sport, business and show business." At the other end of the spectrum resides a much less demonstrative crowd when it comes to displaying their buying
prowess. Completely content to shop the secondhand market, outlet buyers are not interested in following the affluent circle when it comes to finding priceless treasures - nor can they
afford to. Eschewing the neoclassical theory of consumption, these shoppers prefer to hone in their purchasing talents on leftover styles that were all the rage last season in exchange
for a handful of savings. "The ethos of the shopper tends to be that they have money in their pocket and they dont know what they are going to
buy while they are here, but they do know they will get a bargain." This buying attitude is not as far removed from its consumption counterpart as one might believe,
inasmuch as the thrill of the hunt is still very much alive no matter how much money is spent. For shoppers with expensive tastes on tight budgets, outlet stores
represent the chance to pick up designer wear without the customarily high price tag; for those who do not bother to look at a price tag when they shop, such
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