• Research Paper on:
    Neoclassical Consumption Theory and Modern Society

    Number of Pages: 5

     

    Summary of the research paper:

    In five pages this paper reveals how modern society often features aspects of the neoclassical theory of consumption. There is no bibliography included.

    Name of Research Paper File: LM1_TLCneocl.rtf

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    Unformatted Sample Text from the Research 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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