Take a photo with your iPhone

Still need a gift? 🎄

Get the book. 135 sketches explaining the world

It still amazes me how few people know this most handy of tips.

Published 23 Dec 2012

A weekly sketch by email

Learn something new in a sketch each Sunday

Get the book!
Big Ideas Little Pictures

Prefer to listen?
Try the podcast

Sketchplanations is ad-free
thanks to supporters like you.See more on Patreon

Keep exploring

Veblen goods

Most things increase in demand as they get cheaper — as the price of electric cars comes down we can expect more people to buy more of them. Veblen goods are the opposite. They thrive on exclusivity. Veblen goods are more desirable exactly because they are more expensive. If everyone could buy a Rolex, the vintage whisky, or that supercar, then they wouldn't seem so super anymore. Many luxury items are veblen goods. The I Am Rich iPhone app briefly sold for $999.99 and displayed only a glowing red gem and a mantra about being rich. Genius/madness. Veblen goods are named after Thorstein Veblen, coiner of the concept of conspicuous consumption.…Most things increase in demand as they get cheaper — as the price of electric cars comes down we can expect more people to buy more of them. Veblen goods are the opposite. They thrive on exclusivity. Veblen goods are more desirable exactly because they are more expensive. If everyone could buy a Rolex, the vintage whisky, or that supercar, then they wouldn't seem so super anymore. Many luxury items are veblen goods. The I Am Rich iPhone app briefly sold for $999.99 and displayed only a glowing red gem and a mantra about being rich. Genius/madness. Veblen goods are named after Thorstein Veblen, coiner of the concept of conspicuous consumption.

Newer

RRandom

Older