What is the "paradox of a positional economy?"?
A) 1% of the world owns 95% of the world's wealth.
B) Treadmills of production and consumption push individuals in contradictory directions.
C) Treadmills of consumption speed up as more people purchase more.
D) Levels of consumption are constantly devalued as more people attain them due to general economic growth.

Question

Quizplus · Accepted Answer

The paradox of a positional economy refers to the phenomenon where the levels of consumption are constantly devalued as more people attain them due to general economic growth. For example, owning a car used to be considered a symbol of luxury, but now it is seen as a necessity for most people. As a result, owning a car no longer confers the same level of status and prestige that it once did. This devaluation of consumption occurs because as more people attain a certain level of consumption, it becomes a more common and less distinctive marker of status.

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