A heterodox approach to masstige : brand fetishism, corporate pricing, and rules of consumer choice

Lah, Marko (avtor), Sušjan, Andrej (avtor)

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.

• Jezik: Angleški jezik
• Ključne besede: consumption, luxury, masstige, Original Institutional Economics, post-Keynesian economics
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: FDV - Fakulteta za družbene vede ; EF - Ekonomska fakulteta
• Status publikacije: V tisku
• Različica publikacije: Objavljena publikacija
• Leto izida: 2023
• Št. strani: Str. 1-19
• Številčenje: Vol. , no.
• PID: 20.500.12556/RUL-154206
• UDK: 366:330.821.5
• ISSN pri članku: 0486-6134
• DOI: 10.1177/04866134231184939
• COBISS.SI-ID: 162772227
• Datum objave v RUL: 01.02.2024

Gradivo je del revije

• Naslov: The Review of radical political economics
• Skrajšan naslov: Rev. radic. polit. econ.
• Založnik: SAGE
• ISSN: 0486-6134
• COBISS.SI-ID: 263961

Licence

• Licenca: CC BY-NC 4.0, Creative Commons Priznanje avtorstva-Nekomercialno 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by-nc/4.0/deed.sl
• Opis: Licenca Creative Commons, ki prepoveduje komercialno uporabo, vendar uporabniki ne rabijo upravljati materialnih avtorskih pravic na izpeljanih delih z enako licenco.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: potrošnja (ekonomija), blagovne znamke, keynesianizem, trženje, vedenje potrošnikov