Is luxury consumption bad? Should it be limited? At the time of high inequality, and especially inequality driven by the very top of income distribution (1 percent and higher) these are legitimate questions. The answer however is not easy. Keynes in his famous opening of
If the tax on buying a huge house went up wouldn't the price just go down? There have been sumptuary laws - the window tax was one. They do not seem to have had much effect. I'm with the Marxists here!
If the tax on buying a huge house went up wouldn't the price just go down? There have been sumptuary laws - the window tax was one. They do not seem to have had much effect. I'm with the Marxists here!