New Money’s use of economic capital in signaling spurs the creation of expensive luxury goods such as sports cars, limousines, mansions, yachts, summer homes, designer clothes, and furniture. Old Money’s countersignaling and focus on patina and cultural capital incentivize companies to make classic, modest goods with a functional appeal. The professional class’s signaling through information creates a market for middlebrow mass media/consumer guides, functional goods, artisanal goods, and copies of Old Money lifestyles. Underprivileged individuals’ desire to take part in culture and outdo
...more
