A heterodox approach to masstigeLah, Marko (Avtor) Sušjan, Andrej (Avtor) consumptionluxurymasstigeOriginal Institutional Economicspost-Keynesian economicsMasstige, 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.20242024-02-01 09:33:12Članek v reviji154206UDK: 366:330.821.5ISSN pri članku: 0486-6134DOI: 10.1177/04866134231184939COBISS_ID: 162772227sl