The design of new policies in the global economy and society: The case of star markets and cultural change

Thodoris Koutsobinas

MPRA Paper from University Library of Munich, Germany

Abstract: This paper summarizes the alternative policy paths that can be followed for the correction of economic, social and cultural problems associated with the emergence of the phenomenon of star markets and excess consumption in developed economies. The phenomenon of star markets is relatively new but has received considerable attention lately since it is exacerbated by the spread of processes associated with globalization. The analysis is conducted in terms of an interdisciplinary framework that spans from Economics to Anthropology and of an attempt to bridge American pragmatism with European radical accounts of the phenomenon. I conclude that if redistribution policies are followed, there is a potential for a welfare benefit of cultural change across different classes of the population.

Keywords: star markets; conspicuous consumption; distribution; culture change (search for similar items in EconPapers)
JEL-codes: A12 B52 D03 D10 L51 Z1 Z13 (search for similar items in EconPapers)
Date: 2003-12-31
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:38422

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