‘End of bling is nigh’ warns new study from Georgios Patsiaouras of the University of Leicester School of Management. ‘Research reveals recession will sound death knell on conspicuous consumption.’ Also in today’s news: Pope Catholic.
Usually Hedgehog adopts a gently mocking/undermining tone for the stupid press releases I receive in my inbox, but this one made me too angry.
‘End of bling is nigh’ warns new study from Georgios Patsiaouras of the University of Leicester School of Management. ‘Research reveals recession will sound death knell on conspicuous consumption.’ Also in today’s news: Pope Catholic.
The University of Leicester is bringing us this? What’s worse is that this is a doctoral study. Can you believe that someone is on the path to a doctorate by understading that recession = less money = decrease in consumption?
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What might be even worse is that he’s probably wrong. People might not be blinding their friends with their Ritz-sized diamonds but the best restaurants are still full, Sloane Street is still bustling with Birkins and the world of Chelsea appears much the same.
The release continues: ‘Patsiaouras argues that individuals consume and demonstrate products and services in order to achieve a desired status designation. Manufacturers, sellers and advertising agencies produce and promote goods that aim to satisfy consumers’ tendency to emulate ‘superior’ lifestyle groups.’ (Note the ‘superior’ in inverted commas.)
Dr. Bling? More like doctor of bl[eed]ing [obvious].
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