$12 coffee and the positional economy

Starbucks is opening some exclusive “Reserve Roasteries and Tasting Rooms,” which will offer high-end coffee experiences at around $12 per cup.  George Will discusses the phenomena, drawing on an economist who distinguishes between the “material” and the “positional” economy. First we have to meet our basic “material” needs (food, shelter, clothing).  After that, what once [Read More...]

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