Luxury Fever: Weighing the Cost of Excess

The turn of the twenty-first century witnessed a spectacular rise in gross consumption. With the super-rich setting the pace, everyone spent furiously in a desperate attempt to keep up. As cars and houses grew larger and more expensive, the costs were enormous—not only monetarily but also socially. Consumers spent more time at work and less time with their family and friends; they saved less money and borrowed more.

In this book, Robert Frank presents the first comprehensive and accessible a...