M.P. Dunleavey adds this commentary on MSN Money. She talks about “luxury” products that draw the attention of middle-class individuals to help them feel like they have a wealthy lifestyle. One of her points is that the premium paid for a high end item very rarely justifies the price difference. Dunleavey includes examples of various types of products with a luxury equivalent that draws people who can’t afford them, such as watches, chocolate, sneakers, and baby products.
She quotes a psychologist who calls the cause “miswanting” — what people want (a life of wealth) can’t be satisfied by acquiring luxury items.
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