The design of new policies in the global economy and society: The case of star markets and cultural change

Koutsobinas, Theodore (2003): The design of new policies in the global economy and society: The case of star markets and cultural change. Published in: International Journal of the Humanities , Vol. Volume, : pp. 1567-1579.

Abstract

This paper summarizes the alternative policy paths that can be followed for the correction of economic, social and cultural problems associated with the emergence of the phenomenon of star markets and excess consumption in developed economies. The phenomenon of star markets is relatively new but has received considerable attention lately since it is exacerbated by the spread of processes associated with globalization. The analysis is conducted in terms of an interdisciplinary framework that spans from Economics to Anthropology and of an attempt to bridge American pragmatism with European radical accounts of the phenomenon. I conclude that if redistribution policies are followed, there is a potential for a welfare benefit of cultural change across different classes of the population.

• Item Type: MPRA Paper
• Language: English
• Keywords: star markets; conspicuous consumption; distribution; culture change
• Subjects: D - Microeconomics > D0 - General > D03 - Behavioral Microeconomics: Underlying Principles; L - Industrial Organization > L5 - Regulation and Industrial Policy > L51 - Economics of Regulation; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary; A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines; D - Microeconomics > D1 - Household Behavior and Family Economics > D10 - General; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification

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