So much for the invidious distinction

In one chapter of the book "The Theory of Leisure Class," Vablen briefly summarised how pecuniary accumulation came to be the index of one's esteem. In a predatory environment possessions were symbols of one groups environmental fitness over another, and then it came to symbolise the rulers' superiority. An the society move from predatory to industrial, opportunities for individuals were open and now the accumulation of wealth becomes the basis of one's esteem not only for the self, but for the community. It's not about sustenance anymore, as research shows happiness does not increase proportionally with the accumulation of wealth, but instead establishing one's superiority by displaying that one has "more."

I came across this news earlier, and interesting enough this properly illustrated the consequences of such paradigm, in the face of economic crisis. This article mentioned how after the recession luxury cars were left all over the Dubai, whose owners, unable to sustain the extravagant lifestyle in the earlier boom, defaulted on loans, abandoned their possessions, and fled the country. Not surprisingly, a large proportion of abandoned vehicles were left in the airport parking lot, as the owners typically drove to the airport as fast as they could, before the law is able to catch them, and catch the first flight home, leaving behind them the luxurious possessions. This example serves as the most recent consequence of such social paradigm, and, would perhaps lead to more complicated social chaos.