Connotation and Mechanism

Hongbo Lai ()
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Hongbo Lai: University of Shanghai for Science and Technology

Chapter Chapter 3 in Chinese Local New Luxury Brands in a Digitally Empowered Era, 2021, pp 41-60 from Springer

Abstract: Abstract Luxury goods are non-essential goods, with greater spiritual value than material value, but are the inevitable products of historical development. People won’t consider such products until they have solved the problem of survival. In the history, we may find the first industrial revolution was mainly the transformation of agriculture and animal husbandry. Countries around the world built or renovated a lot of water conservancy facilities, or introduced relevant policies to vigorously develop agricultural productivity. The purpose was to satisfy the most basic demand, that is, to end hunger. The second revolution happened in the textile industry, which boomed thanks to the flourishing cotton industry and maritime trade in Europe and North America. The third was the reform of the industrial age. Cars, airplanes and railways were invented to meet travel demand. “Traveling thousands of miles a day” is no longer a myth, but a truth. The fourth is the information industry. The Internet, mobile phones and computers have made communications across the world convenient and fast, and the economy and trade has prospered.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-2145-1_3

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DOI: 10.1007/978-981-16-2145-1_3

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