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Status Races and Birthday Parties

Geoff Riley

16th June 2009

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Over at the Business Studies blog Tom White has a super piece about rising spending levels for birthday parties and other celebrations. It is a clear example of status races and the rising demand for positional goods - I wrote about this a few days ago when reporting on the Bob Frank lecture at the RSA. If we all cut our spending on such celebrations by say twenty per cent would we be any worse off?

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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