randy-1104-05-2017 4:18pm
But, we are drifting far OT here.
... the most famous is the price of BMWs during the 1980s. In the 1970s and earlier they used ot cost about the same as a Buick; but sales actually increased greatly as prices rose steeply.This isn't scientific, because you have multiple variables, including the infamous decline in quality of American cars during this same period. In fact, just as the sales of BMWs went up, almost all foreign auto manufacturers gained US market share during the same period, and for the same reason.
You could also read Veblin's Theory of the Leisure ClassThat's a pretty old text, but still valid. What Robert J. Stanley did was develop current data on wealth. I encourage you to read some of it. A lot changed during the 20th century.
But, we are drifting far OT here.