For most products and services, there is an inverse relationship between price and demand. That is, when the price goes up, demand goes down. However, for Veblen goods, there is a direct relationship ...

As we all know Apple's now the most valuable stock market company based ever. As long as we ignore inflation, don't count the size of the economy it's sitting in and so on. But well done to them, they ...

A Veblen good is a product that challenges conventional economic theory. Normally, when the price of something increases, demand tends to drop. But for Veblen goods, the opposite occurs — demand ...

In economics, goods and services can be classified in different ways. You might be surprised to realise you already knew this, even without knowing their classification names. Most goods and services ...

I thought that this new titanium cased Android smartphone was an interesting little study in consumerism. For the real point and purpose of this phone, from Gresso, is not to be a smartphone at all, ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When Thorstein Veblen invented the notion of “conspicuous consumption” he was not thinking of a crypto tycoon ...

What do these phrases mean? If you don’t know, there’s a decent chance you’re spending money foolishly. Android’s Law A CNNMoney post explains that the popularity of Android, Google’s free open-source ...

What are Veblen goods? How are they different from regular goods and commodities and how is bitcoin a Veblen good? For most products and services, there is an inverse relationship between price and ...

A good for which demand increases when its price increases, and vice versa. Luxury goods like diamonds, whose appeal depends on their exorbitant price, are an example. It is named after American ...