Thorstein Veblen Was Right and Somewhat Wrong

Linked HERE is an article that talks about consumption patterns and tendencies depending on race and class. It's an interesting read that relates recent research by economists and plays with Veblen's famous hypothesis of "conspicuous consumption."

If you see cars with really expensive rims or you see a high-schooler wearing an Abercrombie & Fitch or Hollister t-shirt (isn't Hollister the new Ocean Pacific?), this article might explain some things.