53 sats \ 3 replies \ @Satosora 23 Oct \ parent \ on: The Secret Economic Theory Behind the $100,000 Birkin Bag econ
They buy things that other people cant buy. Maybe custom, but a lot of the wealthy also dont spend money in that way. Especially generational wealth that hasnt dried up. They know the value of money, so they dont become bankrupt after the third generation.
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30 sats \ 1 reply \ @Undisciplined OP 23 Oct
That does sound familiar. I've probably read the same thing somewhere at some point.
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0 sats \ 0 replies \ @Rothbardian_fanatic 23 Oct
You’re right! Probably the only way the majority of us will know about this subject is vicariously.
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0 sats \ 0 replies \ @Rothbardian_fanatic 23 Oct
I don’t thin the original entrepreneurs spend money that way. They are self-taught their value of their efforts. They really understand the meaning of the money they earned. I have my doubts about the second and following generations. Yes, they can maintain their money, but in many cases go broke or just maintain the wealth they got by interest and such. Think Rockefellers and Rothchilds, who have an absolute lock on the wealth, versus say the Vanderbilts.
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