Karthik Shashidhar

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The professional classes compete through consumer choice because cultural capital—the knowledge of specific conventions—can get them further ahead in the world than any future chance at giant fortunes. By competing on taste, they can best rivals in their own ranks, impress Old Money, and embarrass New Money.
Status and Culture: How Our Desire for Social Rank Creates Taste, Identity, Art, Fashion, and Constant Change
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