Forget fancy cars and yachts -- these are the symbols of the new American elite

In Veblen's now famous treatise The Theory of the Leisure Class, he coined the phrase 'conspicuous consumption' to denote the way that material objects were paraded as indicators of social position and status. More than 100 years later, conspicuous consumption is still part of the contemporary capitalist landscape, and yet today, luxury goods are significantly more accessible than in Veblen's time. Given that everyone can now buy designer handbags and new cars, the rich have taken to using much ...