The detrimental effects of luxury goods consumption on socially excluded groups

Kenneth Chan, Bharat Hazari and Vijay Mohan

Review of Development Economics, 2018, vol. 22, issue 4, e228-e238

Abstract: This paper examines the impact of luxury goods consumption by the wealthy on the welfare of socially excluded groups. We find that a deterioration in the luxury goods terms‐of‐trade or an increase in the capital used to produce nonluxury traded goods have the consequence of increasing the welfare of the wealthier sections of society at the expense of the socially excluded groups.

Date: 2018
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