Does Inequality Matter?

The important practical point is that when the rich build bigger, they shift the frame of reference that shapes the demands of the near rich, who travel in the same social circles. Perhaps it?s now the custom in those circles to host your daughter?s wedding reception at home rather than in a hotel or country club. So the near rich feel they too need a house with a ballroom. And when they build bigger, they shift the frame of reference for the group just below them, and so on, all the way down.?

Source: http://feeds.slate.com/click.phdo?i=afa6ccfdfe76179bef132e863c3d5283

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