Catching up with the Jones

In the previous article on ‘Moderation in Capitalism’ we saw that a little moderation in lifestyle is the right way to have a sustained growth and preserve the essence of capitalism.

There is another side to capitalism. What is the reason that the so called “consumers” go wild with spending money on things that add little or no value to them. It is the idea of “catching up with the Jones”. Very rarely we see that we want to catchup with the Jones because they ‘Do Not’ have something, it is always, “Oh! they have this, we need it to”. Continue reading →