"In this timely books, Theodore Koutsobinas explores the system of status markets and their social effects including inequality. He explains how media fascination with superstars and luxury consumption goods amplify positional concerns for all, distort aspirations of the middle class and cause...

'This volume is innovative in terms of its subject matter, approach, theoretical development and policy prescription. It should be read by economists and policymakers who want to understand and address significant contemporary changes in society: the growing importance of status markets for...