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Of course, yachts look pretty perverse if you’re swimming in student debt or medical bills — fair enough. Still, if you’re a middle class westerner who’s ever attended a half-decent NYE party you’re probably within an order of magnitude of all-time peak human decadence
The really absurd thing are these “one of a kind” status goods inflated to hell — but if you’re Indiana Jones-ing it with the default take “that priceless artifact belongs in a museum, where schoolchildren can be forced to stare at it!” congrats, you’re the pricing mechanism
The flipside of this is that diminishing marginal utility is an argument for greater taxation on the wealthy.
True if hedonistic consumption were the only way to allocate wealth but no
Reminds me of this passage about the midwestern couple who figured out how to hack the lottery https://highline.huffingtonpost.com/articles/en/lotto-winners/ …pic.twitter.com/I0y6TMmAPr
Yachts don’t look nearly so perverse if one earns ones livelihood building, equipping, or crewing them.
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