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  • A heterodox approach to masstige : brand fetishism, corporate pricing, and rules of consumer choice
    Lah, Marko ; Sušjan, Andrej
    Masstige, or luxury for the masses, is a phenomenon that requires a heterodox economic approach based on Original Institutional Economics view of corporate power combined with Marxian concept of ... brand fetishism and post-Keynesian theories of pricing and consumer choice. The attitude toward luxury in classical works on political economy is briefly outlined. By applying the post-Keynesian theory of oligopolistic pricing, we show how the power of luxury brands enables high profits of luxury conglomerates. We use the post-Keynesian theory of consumer choice to differentiate between various types of masstige buyers.Masstige, or luxury for the masses, is a phenomenon that requires a heterodox economic approach based on Original Institutional Economics view of corporate power combined with Marxian concept of brand fetishism and post-Keynesian theories of pricing and consumer choice. The attitude toward luxury in classical works on political economy is briefly outlined. By applying the post-Keynesian theory of oligopolistic pricing, we show how the power of luxury brands enables high profits of luxury conglomerates. We use the post-Keynesian theory of consumer choice to differentiate between various types of masstige buyers.
    Source: Review of radical political economics. - ISSN 0486-6134 (Vol. 56, no. 2, Jun. 2024, str. 214-232)
    Type of material - article, component part ; adult, serious
    Publish date - 2024
    Language - english
    COBISS.SI-ID - 162772227

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    Repository of the University of Ljubljana – RUL
    DOI

source: Review of radical political economics. - ISSN 0486-6134 (Vol. 56, no. 2, Jun. 2024, str. 214-232)

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