Book Description

Praise For The Ms. Spent Money Guide

"An inspiring, sensible money guide that helps people learn how to spend without feeling guilty, deprived, or unhappy, and feel good about saving for their future. A wonderful book for anyone wanting to take charge and make the most of their financial life."
– John Gray, author of How to Get What You Want and Want What You Have and Men Are from Mars, Women Are from Venus

"Deborah Knuckey shows us that spending and investing aren’t just about money. They’re about realizing our dreams, and being true to ourselves."
– Carrie Schwab Pomerantz, Vice President, Consumer Education
Charles Schwab & Co., Inc.

"The Ms Spent Money Guide is innovative and offers exercises that can really help readers learn about themselves and money. The ‘Conscious Spending’ model is an especially innovative planning approach that reflects how people feel about money."
– Dr. Gwen Reichbach, Director
National Institute for Consumer Education

Over the course of your life, you will probably earn more than a million dollars. How will you spend it? Will you consciously use it to live out some of your dreams, or will you unconsciously spend it just living? Will you consciously choose your lifestyle, or will you unconsciously drift into it? Discover how "Conscious Spending" helps you answer these challenging questions and redesign your financial life. ... Read more

Reviews (11)

Financial book for people who dislike money issues
Deborah Knuckey has written a helpful and enjoyable book intended to help readers get in touch with the reasons they spend money and how they can become more "aware" of their spending habits. She's a helpful advisor who doesn't offer opinions or tells you what you must do. Instead, the book lets you decide what money decisions you want to make. This book is quite helpful--I wish I could take the author shopping with me next time I hit the mall!

Motivation to NOT MsSpend
This book fills the gap in the personal finance market because it recognizes something that others haven't seen: the reason so many of us manage our money poorly is that it sounds too hard to manage it well. Yes, I know I should spend less, and yes, I know I should save more - but why don't I, and how can I change? I found this book had some good ideas about how to motivate myself to WANT to make the changes that I have known for years that I SHOULD make. Though some people can control their spending through pure logic (like the writers of the pretty nasty sounding reviews below - no wonder they did not put their full name to the reviews!), it has never worked for me. Deborah Knuckey also has some good tips and ideas that make sense and are presented in a fresh and light way. Too many books impose such tough restrictions that I end up reading them and going on a shopping splurge because I feel so bad about myself afterwards. I feel like someone finally understands that this is not easy and cutting down on all spending is a recipe for failure. This is the perfect starter book if you are trying to get your spending under control. Now that I am beginning to save more, I may revisit some of the books on investing I have owned for years but never read.

Great way to rethink your money
I have the hardback edition of this book and love it - it still sits on my desk and I refer to it a fair bit. I like the way the author realizes that the eky to managing spending is more psychological than logical - and she gives easy to follow solid advice about how to get out of your own way and get into good habits.

My advice: if you want to get more for your money - Buy it!

The Ms.Spent Money Guide
Many book are interesting to read, and then you forget all about them. Not "The MsSpent Money Guide," which I refer to over and over again. It is a book that has changed my life. Most of us feel helpless before ubiquitous money problems. Deborah Knuckey's book teaches you that you can be in charge of your financial welfare, that you are the architect of your future, and that you can be as well off moneywise as you want to be. She says, "Why spend so much of your life working if you don't use your earning in a way that makes you ahppy? Even if you love your job, most work is siimply not that much fun that we'd do it purely for the joy of it. So take the payment for your work and put it to your own best use." Knuckey believes that each of us has different life values, and it is foolish to go along with everyone else's. What mattters, she writes, is that your spending fit your own needs and not that of the Joneses. Some people like fine clothes, others could care less what they wear. Some of us enjoy eating in fine restaurants, others prefer cooking at home.Whatever it is that you enjoy, that is what you should be spending your money on. What matters is not how much money you have, but that it is invested in what will make you happy. Deborah Knuckey will teach you haow to do it. Don't miss reading this book, if you want to enjoy life to the fullest.

Ms. Spent Is Right On The Money!!
I recently saw Deborah Knuckey on Oprah, and her appearance was fantastic! In fact, that is why I bought her book. Everything she said was quite true,and the best part about her book is that it is not a budget book or a "scrimp and save" type plan. She encourages people to align their money with their values. If buying lunch everyday is what makes you happy, then do it. But, if the $5.00 per day you spend is taking away from something you would rather enjoy - like a vacation at the end of the year - then try to find out where you can put your money to make yourself personally satisfied. I also enjoyed the fact that Knuckey never tells you precisely what to do with your money. She simply encourages you to realize and understand exactly where it all goes. I know I spend money, and then at the end of the week, I wonder exactly what I did with it. Knuckey encourages you to be proactive and fully understand that you spend your own money and should track it accordingly. Her advice about retirement plans also helped me. I am in my twenties, and I have never given much thought to my life at the age of 65, but now I realize that I can retire a millionare by investing one hundred dollars or less somewhere else, instead of buying things I don't necessarily want or need. I recommend this book to anyone who wants to become a conscious spender and try to make their money work for them, while remaining happy and enjoying life at the same time. Thanks for the advice Ms. Spent! ... Read more

Book Description

This book provides an overview of recent research on saving and consumption, a field in which substantial progress has been made over the last decade. Economists attempting to understand saving and consumption patterns have generated some of the best science in economics. For more than fifty years, there has been serious empirical and theoretical activity--never separating data, theory, and policy as has happened in many branches of economics. Research has drawn microeconomists interested in household behavior, as well as macroeconomists, for whom the behavior of aggregate consumption has always occupied a central role in explaining aggregate fluctuations. Econometricians have also made distinguished contributions, and there has been a steady flow of new methodologies by those working on saving and consumption, in time-series econometrics, as well as in the study of micro and panel data. A coherent account of these developments is presented here, emphasizing the interplay between micro and the macro, between studies of cross-section and panels, and those using aggregate time series data. ... Read more

Reviews (1)

Elegant and clear
I found this book very interesting for 2 reasons. First, it is very clear and the technicalities are kept to a minimum (although a reasonable level of calculus and basic economic theory is advisable). Second, its originality lies in the fact that it relates microeconomic analysis of consumption and saving behavior with macroeconomic aggregates. It is a very good starting point for anybody willing to study life-cycle decisions by individuals. It conveys a lot of information in a dense but elegant way ... Read more

Book Description

Consumer Education & Economics is a comprehensive consumer education program covering three broad areas: understanding our economy, managing family and personal finances, and making well-informed purchasing decisions. The up-to-date content includes credit, identity theft, new investment options, estate planning, using financial software, consumer ethics, and choosing child and adult care services.

Updated content is particularly time sensitive, with many recent developments being addressed: new consumer laws, changes in our health care system, and the rapid growth of Internet resources.Skill development in critical thinking, decision-making, and resources management is emphasized.Colorful charts and graphs summarize information in easy-to-grasp, visually interesting ways. ... Read more

Book Description

Tweens (8- to 14-year-olds) comprise a new type of audience. An increasingly powerful and smart consumer group, they spent US$300 billion but influenced an astounding US$1.88 trillion spent across the globe last year. They are different from previous generations in every way. They are more likely to have a friend on the other side of the world than in their own street, they think the TV remote is broken when they can’t find the cursor on the screen, they drop from existence when the battery in their cell phone is flat, and they know current brand images better than any advertising expert.

Based on the world's most extensive study of tween attitudes and behaviors ever conducted, 'BRANDChild' is the first book to look in-depth at the phenomena behind global kids and their relationships with brands. Conducted by Millward Brown, the leading global market research agency, the BRANDchild survey involved several thousand kids from more than 70 cities in 15 countries (throughout Europe, Asia, the United States and South America). Several renowned experts including best-selling author Patricia B. Seybold ('Customers.com') share their unique views on kids' trends and fascinating marketing techniques.

'BRANDChild' summarizes this research, as well as decades of experience from a variety of other sources on how to market to kids. It looks at their life priorities, hopes and dreams and reveals the true drivers of kids’ trends by analyzing teen-minority groups, communities and clubs.

Packed with practical advice on how to create kids' brands, including more than 50 previously unpublished case studies, 'BRANDchild' proposes new innovative ways of marketing to this young audience. It is required reading for anyone wanting a fresh insight into this increasingly influential and demanding consumer group. ... Read more

Reviews (4)

Packed with Knowledge!
This is an excellent book about marketing to children. Based on extensive research into the attitudes, perceptions, emotions and preferences of children around the world, it tells you in no uncertain terms how to target one of the biggest and most influential consumer populations on earth. Children between the ages of 8 and 14, dubbed "tweens" ("tweenagers") by the authors, are a curious group. They are also a lonely, insecure group with an engaging mix of naiveté and sophistication. Devilishly hard to capture, they are a rich economic prize, controlling an enormous amount of money of their own, and strongly influencing their families' purchases, even of major appliances. This book shows you what matters to these kids and what false notes to avoid if you want to tap into their buying power. We acknowledge that some readers may be uncomfortable with such tactics as setting up a web site that pretends to belong to a friendly child in order to attract kids and start buzz about some brand, but the book's reporting is accurate, practical and forward looking, for good or ill.

Great Book!
Martin Lindstrom does a great job letting the reader know that the root of success when communicating with kids is understanding kids, their lives, dreams and hopes. He not only analyzes data from 7 countries, but includes his own experiences with working with kids and with kids related brands. He is able to get his point across without being boring, looking at the subject form different angles.
I also checked out the MartinLindstrom.com site. I think it is a great site, with tons of brand info related to kids and general brand trends. Well done!

The Secret Seapon
This book is the secret weapon for anyone who markets to kids or wants to. Lindstrom manages to make the subject entertaining and engaging while teaching you a pile of indispensible techniques to capture a kid's heart.

Not only does the book teach you how to market products better, it gets you thinking different. Suddenly, you're developing products and strategies with kids in mind, and you understand why certain products are big hits with kids.

Another funny thing about this book...it helps you to understand kids better. For readers with their own kids, this could be the greates value of all.

Excellent Book!
This is purely and simply and excellent book that manages to explain a difficult and topical subject by usind simple and effective use of examples and facinating data from the global BrandChild study. Everyone looking to market not only to kids but almost to anything must read this as it will rationalise the arguments against traditional marketing and promotion. ... Read more

Reviews (1)

Insightful and thought provoking
Beaudoin's presentation of his theology of consumption and spirituality is very accessible to people new to the concepts. His non-moralizing approach is inspirational rather than guilt-inducing. His humor is delightful. Although I personally do not come from a Christian tradition, I find this book applicable to my own life. I recommend this book to anyone who is curious about global economics. ... Read more

Book Description

The 21 top trends for 21st-century business.

Most trend analysis books focus on predicted major "trends" that turn out to be short-range fads, aberrations and/or glitches. TrendSmart does away with all the nonsense. As a result of more than 20 years of trend analysis and market research, Louis Patler reveals the top emerging trends that are most useful to the average business.

Twenty-one accessible chapters describe these trends and how TrendSmart managers can use them to grow and improve their business in the areas of leadership, customer relations and employee relations. ... Read more

Reviews (1)

Smart and punchy keeps you one step ahead
I find with todays blizzard of information, it's easy to get snowed under by mountains of consumer reports, trade magazines and marketing data.Trendsmart helped me focus on what's important so that I can start picking out emerging trends in my own industry (travel).The chapters are concise and readable, great inspiring brain candy for the daily commute to the office.One idea I adapted has already boosted sales 15% in a month. ... Read more

Book Description

Designed for easy use, The American Marketplace gives readers a population profile of the United States in one handy volume. Its 255 tables are organized into nine chapters on education, health, housing, income, labor force, living arrangements, population, spending, and wealth. New to the sixth edition is analysis of data on volunteering and the work-at-home population. The expanded housing chapter includes data on appliance ownership and energy-use indicators. The chapter on the labor force shows the latest data on child and after-school care arrangements, while the health chapter provides new data on chronic conditions, obesity, high blood pressure, and high cholesterol. New Strategist's own projections of the population by age, sex, and race to 2010 appear in the chapter on population. ... Read more

Book Description

Book Description

"The bargain hunter's bible."
--Modern Maturity

The newest edition of this proven bestseller, which has sold more than 900,000 copies, is completely revised and updated with even more information about trips, discounts, clubs, programs, and special perks for anyone over 50. Includes amazing bargains on airfares and hotels, vacations just for grandparents and grandkids, bike trips and walking tours, free or almost-free educational opportunities, and much more.

Reviews (9)

Unbelievably Good Deals & Great Adventures Over 50
My book club had this book on special so I decided to see if I could get it from Amazon cheaper. BOY, am I glad I did! I certainly would not recommend it. I was highly disappointed because there wasn't much for any one under 60 (62 is more like it). Every "deal" she listed is common knowledge. I gave it two stars only because some of the organizations listed...is worth checking out. But now you have the number so save your money for a really good book.

Unbelievably Good Deals and Great Adventures that you absolu
This book should be renamed "Don't expect any deals unless your over 60." There were very few deals for anyone younger than 60 and those that were offered were basically common sense. Ask and you'll get discounts, you don't need to spend money on this book to find the bargains.

Great deals!
For bargain hunters of a "mature age", this is a very complete guide.

Worth it for the phone numbers alone
This book does three things that make it a valuable present for people 50, 62, 65 and between and above. It lists all the kinds of things you can get a discount on, from travel onward, and tells you what age the discount is available for; it provides contact numbers so you can easily get more information; and it reminds you of things you might not have thought about, like ASKING for a discount on golf, volunteering to be a foster grandparent, or going to a summer tap dancing camp (among other choices) for elders.

A score for mature travelers
Author Joan Heilman scores for mature travelers with this on-target, informative and annually-updated book. Mature adults can travel more and pay less by reading and referring to this book. ... Read more

Book Description

First time in paperback: "An exhilarating collection by a brilliant writer...a penetrating observer of things so familiar that they're in danger of not being noticed."-Steven Millhauser.

Call it an encyclopedia of low-brow aesthetics. In Cute, Quaint, Hungry and Romantic, the writer whom Steven Millhauser called "the most original essayist since George Orwell" examines with devastating wit and in a style distinctly his own the contagious appeal of that which is not art, the uses of the useless, the politics of product design and advertising. Here is a psychic voyage into the aesthetic unconscious of the consumer, as well as "the perfect companion for any foray through Restoration Hardware or the freezer compartment at Dean & DeLuca" (Village Voice Literary Supplement). From teddy bears to Mars Bars to Leonardo DiCaprio, this is the refuse of consumerism unflinchingly-and very entertainingly-observed. ... Read more

Reviews (13)

A Fascinating Failure
Diatribes on conumerism are certainly nothing new, but Daniel Harris attempts to be more than, as he states, "simply a covert attack on the bad taste of the lower classes."

Unfortunately, it doesn't quite work out that way. Much of the book is easily-gathered theories popular in anti-consumerist essays (Hey, did you know that most food ads don't have anything to do with hunger? Oh, you did? Ah well...) and when Hariis strays from simple ideas, he gets himself into a bind, countering with lots of gross generalizations (to Harris, it's completely inconceivable that someone might be collecting antiques due to a genuine interest in history, or that it's possible to enjoy the humor of "Airplane!" alone) that just sound like the rantings of someone who never got over being unpopular in high school.

Sure, you could buy this book--it's not bad, it's quite densely written, and I finished it, albeit taking a grain of salt with every other page. To save money, however, you could simply type "You're a big phony because you fall into the trappings of consumerism" over and over for 270 pages and get the same effect.

Douglas Rushkoff does this sort of thing better (and, god forbid, includes facts and research), and Kalle Lasn is full of himself, but at least he's optimistic. Harris reeks of nothing but bitterness.

Flawed, but still a great read
There's a certain kind of book for which equivalence of opinion matters less than presentation. Daniel Harris's book falls into that category; it throws out a multitude of arguments, some rational, some purely bitter, some laughably overboard, yet it's all still *interesting*, and maintained my interest even when I thought Harris was overdoing it. A diatribe against the "cuteness factor" of stuffed animals might be something of a passe topic, but when it ends with a hilariously-entertaining listing of the way in which these artifacts subvert reality--including their ignorance of how real animals eat the "struggling young of competing species"--it at least puts a new spin on this sort of topic.

While many of Harris's points seem obvious and overdone, there's enough insight contained in several sections to make this worthwhile even as a serious review. The analysis of the aesthetic of cleanliness was a particular eye-opener, for example, as Harris makes the argument that "clean" is no longer described as the mere absense of filth; things now must be disinfected, spotless, gleaming, and (especially) lemon-fresh. Interesting stuff.

Verdict: Not necessarily the most scholarly tome, and the factual errors (c'mon, he even messes up the "Gremlins" rules!) might diminish its factual value. But still a great read, presenting many intriguing viewpoints on the aesthetics of consumerism.

Less is more.
Daniel Harris has delivered the ultimate post-postmodern internet book marketing triumph, keywords: hoisted, petard. Yes, there does exist an actual hard copy edition by this title which you can have delivered to your mailbox. But why would you bother paying for the frankly dreary "actual book" when the title; cover art; and sample pages available on the internet deliver considerably more bang for your bambi? Daniel Harris's tragedy is that he has outdone the more obscure theoreticians he so delights in superficially deriding. If it's way more fun to make fun of Lacan than to actually read him, where does that put Daniel Harris?

A gem of a book.
I've read a ton of texts about "consumer culture" and this is by far one of the best. What's most intruiging about its arguments is that Harris is willing to explore how the culture is appealing, plausible, seductive, rather than just hideous kitsch that the sweaty masses--for reasons obscure--tend to enjoy. Harris is brilliantly insightful, tactful, persuasive.

Cute, Quaint, & Hungry
Daniel Harris shoots from the hip with thought-provoking insights on the psychological craving for kitsch. This is not the usual mocking "grocery list" of tasteless objects. It is a probe into the causes of the craving. A must-read for anyone tracing the dehumanization of Man in the Twentieth Century. ... Read more

Reviews (2)

determinism, anyone?
In "Culture & Consumption", McCracken takes the view that we are all beholden to our culture and that it is nearly impossible to break out of it. Unlike the reviewer who gave this volume 5 stars, I feel as though it is overly determinstic in its' approach. There is almost no room for any type of individual behavior, as this does not really exist for McCracken. The book is also heavy on a kind of behavioral pop psych dogma and he does not take any other modern consumption ideas into account. In the end, check this book out from the library if you really want to read it, otherwise you're just throwing your money away on overused dogmatic tripe.

You Bought the Rolex But Forgot the BMW?
"Man is a rebel against nature. He is prone to accept few things as they come. In all matters it is his irrepressible belief that by his tinkering he can improve upon them. His instrument is culture." Mary Ellen Roach, Dress, Adornment, and The Social Order

Recall the last time you presented a gift to someone. Was it really a gift for them, or did you only give the gift so that the recipient would assume the symbolic properties of the item, and therefore become more like the person you would like them to be? How about your last major purchase-was it a replacement for something that no longer fits your standards, now that your standards no longer fit your past purchases? An individual would be hard pressed to come up with, let alone answer questions like these without serious thought and reflection, yet these and many others come to mind while reading "Culture and Consumption" by Grant McCracken.

Mr. McCracken beckons us to question ourselves, our motives, and the whole rationale behind what we are doing when we make a purchase in the marketplace, whether it is for ourselves or someone else. While popular opinion and social scientific study purport that materialism is one of the things that is most wrong with our society, the author shows that the goods that are so often identified as the unhappy, destructive preoccupation of a materialistic society are in fact one of the chief instruments of its survival-one of the ways in which its order is created and maintained.

While Mary Ellen Roach and others like her declared that yes, man likes to control things, Mr. McCracken goes many steps forward. He disregards and even insults former theorists on consumption in an attempt to reverse the gears of thinking on modern consumption practices. Accordingly, clothing is not language. In fact, clothing is "quite unlike language and best communicates cultural meaning when it departs from the syntagmatic principle on which language operates." Also, the popular trickle down theory of diffusion is actually "an upward "chase and flight" pattern created by a subordinate group that "hunts" upper class status makers and a superordinate social group that moves on in a hasty flight to new ones." Quite modestly, the author admits that his work "begins the rapprochement. It does not pretend to accomplish it."

Mr. McCracken demonstrates that all the other theories about consumption are wrong or at least flawed. He questions them, and then points the way to a new understanding of how and why we are consumers. By his decree, our culture follows very distinct consumption patterns. With his review of the history of consumption to the present day, the author shows a consistent and lineal progression to the mass misunderstanding of today's marketplace. According to him, culture and consumption are inextricably intertwined, and he has attempted to unweave the elements of this intimate rapport for our perusal.

He casts doubt upon our forefathers with startling clarity. What is reality to us-something we sometimes feel developed in complicated, pretentious ways-is in fact only the direct result of our revolutionary, rebellious founding. Mr. McCracken demands that we reevaluate and reconstruct the history of Western Civilization. All that we were, all that we are, and all that we strive to be is dictated to us by our consumption patterns. While one would hope for free will and liberty under democracy, in reality we are slaves to consumption.

While our consumption once freed us from our past, it now entraps us and dictates our futures. What the author terms the Diderot effect sums this up nicely. Basically it states that when one takes the cultural meaning of a new good as the carrier of privileged meaning, they are forced to make all the rest of their possessions consistent with it. To fail in this capacity would make our semblance inaccurate and inconsistent. With that Rolex you had better buy a BMW. To house that BMW you had better buy a condo on the beach. To fill that condo you had better buy Ethan Allen furniture. To sit on that furniture you had better get a Shar-Pei. To pet that Shar-Pei you had better get a gorgeous and wealthy spouse. When you're through with these "common" luxuries, you better collect Rembrandts, Van Goghs, and Picassos until your lust for the obscure is satiated. By that time you'll be dead and you can leave your compulsive obsessions to your children so that they can continue the warped tradition of bridging their ways to the ever elusive displaced meaning-that gap between the real and ideal in social life-like moths to a flame.

These points deserve to be more than noted. Throughout history, anthropologists have chosen to study the supply side of the Industrial Revolution. Mr. McCracken offers a most refreshing viewpoint of the demand side of the equation. With unique insight, Mr. McCracken uses clothing as a prototypical item of contemporary culture and shows us how it has shaped and dominated our lives. Throughout this collection of essays, he tears down the old order of consumption theory and constructs a new one-one that has never seen the light of day.

For anyone ready to face the marketplace through marketing or advertising, and begin the long overdue look at how and why we consume, there could not be a more congenial conversationalist than Mr. McCracken. ... Read more

Reviews (1)

Hi
This accurately describes the 'behind the scenes' nonsense that is going on when creditors bug you. The bottom line in most cases is - all talk, no action. I cant even take those creditor clowns seriously after reading the book.

The book itself is great. Unfortunately its written in the "college analysis" style which makes for difficult reading. Keep a dictionary close by. It goes into all the probability formulas and whatnot. However there is good info for the layman in here. I doubt there is any other book out there with as much info on creditor collections. The title says it all. ... Read more

Amazon.com

Luxury Fever: Why Money Fails to Satisfy in an Era of Excess is a serious examination of the long-term costs associated with our society's ever-accelerating spiral of conspicuous consumption, followed by a far-reaching remedy that will intrigue anyone concerned with related fiscal issues. Robert Frank, a Cornell University professor of economics, ethics, and public policy, who previously coauthored The Winner-Take-All Society, believes neither foolishness nor greed is really responsible for our relentless desire to own flashier household appliances, bigger sport-utility vehicles, and fancier suburban houses; rather, he contends, it is the ongoing behavior of our peers which ultimately determines how much we spend and how we spend it. Frank goes on to claim, however, that this knowledge alone may actually point us toward an alternative that is both acceptable and practical. "By a simple and easily achieved rearrangement of our current consumption incentives," he writes, "we can effectively enrich ourselves by literally trillions of dollars a year." He then goes on to discuss the recent boom in luxury spending, its potential implications for those at all income levels, his suggestions for altering current consumption patterns, and the reasons that redirecting these funds could benefit everyone.--Howard Rothman ... Read more

Reviews (24)

Smart for One, Dumb for All
Economist Robert H. Frank has written a stimulating book that integrates research from psychology, evolutionary biology, and economics to address the raging "luxury fever" that is needlessly consuming precious resources in "overdeveloped" economies. Frank documents how luxury consumption in western industrialized countries has been rising at an astronomical rate, even though the latest psychological research shows that there is scant correlation between this consumption and levels of stated life satisfaction. Why, then, are wrist watches costing $20,000, huge houses of 10,000 sq. ft. and more, and myriad other forms of conspicuous individual consumption rapidly increasing, even as social spending on education, infrastructure, the environment, and other things that would raise the average level of life satisfaction in society decreasing? Frank describes how this perverse "luxury fever" occurs when individuals pursue their strong individual incentives to increase their relative position in society by consuming more than their peers. But when everyone does this, relative consumption (and perceived life satisfaction) remain constant, while absolute consumption (and related negative impacts on natural resource use, the environment, education spending, etc.) soars. Luxury fever is one of a class of phenomena known by various names in different disciplines, including: negative externalities, social traps, social dilemmas, the prisoner's dilemma, and the tragedy of the commons. Frank cleverly labels these phenomena as situations that are "smart for one, but dumb for all." Once one begins to look, there are clear examples of these situations everywhere, ranging from drug addiction to pesticide overuse to arms races to environmental pollution and even women's fashions. While economists have recognized these phenomena, they have largely been relegated to the status of interesting but relatively minor anomalies. But Frank clearly points out just how pervasive, important, and wasteful they are, and how eliminating them can save literally billions of dollars while actually improving welfare. The "invisible hand" of the market cannot be relied upon to solve these problems, because, as Frank notes: "Far from being a principle that applies in most circumstances, the invisible hand is valid only in the special case in which each individual's rewards are completely independent of the choices made by others. In the rivalrous world we live in, precious few examples spring to mind." (pp 271) Frank's solution to luxury fever is a strongly progressive consumption tax. This could be done in the US with a simple one-line amendment in the tax code to exempt all savings from income taxation. With this modification, the income tax would tax only consumption, without having to specify which consumption was "luxury consumption" and (because of its steep progressivity) without adversely affecting the poor. This consumption tax would have the effect of increasing the costs to individuals of conspicuous consumption (and thus reducing it), while freeing up significant resources to pursue increased "inconspicuous consumption" - things like education, infrastructure, environmental protection, and family time. Given the psychology of relative consumption and satisfaction noted above, this could occur with absolutely no decrease in welfare. In fact, average life satisfaction would increase because relative individual consumption would not change and the neglected forms of social consumption could be increased with the resources from the tax. Why has so obvious a "win-win" move not already occurred, and what are its chances in the future? Frank answers the first part of this question with the famous joke about the economist who sees a ten dollar bill lying in the street and concludes that it couldn't really be a ten dollar bill because if it were someone would have already picked it up. The first step is to clearly and convincingly lay out the problem and the solution as Frank has done - in effect to point out the existence of the $10 bill just lying on the ground. But the idea of a broad consumption tax (and the reasons for it) has been around for many years. It was first proposed by Thomas Hobbes in 1651 and has surfaced many times during the last 300 years. Frank concludes that it will just be a matter of time before the obvious benefits of such a tax are recognized and the plan is implemented - after all, most political changes have a significant gestation period. But there are also obvious impediments to implementing such a tax in the current political climate. In political systems run more and more by special interests it is difficult to implement any policy that might hurt even one of those interests - even if only in the short run. Overcoming the political impediments to any form of meaningful tax reform will require "government by discussion" rather than by interest groups and media manipulation. If social issues of the importance of those in Frank's book can be discussed rationally by the society at large then such obvious social "win-win" solutions as ecological tax reform and a progressive consumption tax can be appreciated and implemented. In a few countries this kind of social discussion occurs reasonably well, but in most it is a far cry from the current political reality. Just as it is very difficult for an animal caught in a trap to free itself, it is also very difficult for a society caught in a social trap to free itself, even when the nature of the trap and the way out has been clearly identified. Lets hope we don't have to bite off our social foot to escape the invisible hand.

Thought Provoking For Social/Behavioral Science Students
As the review title indicates, students & professors of economics, politics, psychology and other social & behavioral sciences will benefit from perusing the pages of Bob Frank's commentary on contemporary American life. Regardless of whether you agree with Professor Frank's solution to our society's "arms race of consumerism", the book makes the reader think about the materialism evident in much of the U.S. Using amusing analogies to describe human behavior related to "buying excess," Frank explains these activities with theories of psychology and economics. His insight provokes thought and entertains the reader throughout the book. Whether explaining why many middle class couples spend $5,000 for the latest Viking model gas grill for their patio, or describing how two millionaires childishly built larger and more lavish yachts just to own the biggest and best cruiser in the world, Frank delivers interesting examples which help provide an understanding for why many people do the things they do.

Read this book if you are a student or teacher of the social or behavioral sciences. Whether you agree with Frank's prescription to correct societal consumerism or you don't believe America has a problem, this book entertains the reader and stimulates ideas for discussion. Well worth the read!

Luxury Fever also explains why US jobs are disappearing.
Professor Frank's title for Chaper 10 'smart for one dumb for all' sums up much of the recent business and political behavior in our country.

Jobs are going to China and a flood of imports are drowning our factories because our government and business leaders are practicing "smart for one" while our country slides toward the status of a 3rd world nation.

It is said that a nation's wealth is measured by what it can manufacture - not by what it consumes (who said that?)

Every CEO worth his or her salt these days is moving manufacturing operations overseas as fast as possile to get a piece of the short-term profits under "smart for one". If this continues, the 'dumb for all' effect will doom us to to poverty and China will (again?) rule the world of commerce.

Luxury Fever is a great book which should be read by every person who cares about the USA over the long haul - especially our elected officials. I'd like to see RH Franks (Luxury Fever) team up with Ravi Batra (The Myth of Free Trade) as lobbyists to return sanity to our country's business climate.

Adam Smith has been taken out of context. When he spoke about the "Invisible Hand" (of commerce) there was an ethic in the land that accepted pervasive empathy as a given. Today, our leaders push unbridled avarice and seem to think that empathy is only for the weak 'players'.

Let Them Be Lemmings
Let Them Be Lemmings

Some factual common trends are noted by Frank: in general, wages in the U.S. have been static and even in decline for most Americans in recent decades. Yet, proportional per capita spending on luxury goods has increased significantly. The results according to this author and others who've conducted numerous studies and research is a weaker economy, high personal debt, longer working hours, less sleep, and having to work until death, in debt of course.

We're all aware of the American "gotta have this or that" bug. Many have it, but many don't. Some don't want it. Why do certain luxury goods and "gadgets" become oh-so-popular in American society? Frank notes, and correctly, that the desire for many to purchase certain material things is by no-doubt influenced by what others are buying or want to buy.

The concept of "social status" is a concept where human beings in mass-consumption cultures judge each other in this context in RELATION to our peers. These "peers" may be the strangers we live next to in suburban anonymity, our co-workers, friends, or the strangers we see driving next to us in our daily suburban traffic jams. (Note my use of the word "stranger").

The commonly known terms such as "keeping up with the Joneses," the status treadmill" the "arms race of consumerism, Consumer Feticism," and Velben's "Conspicuous Consumption" are presented. But not from a moralistic standpoint but a behaviorist, biological, psychological, and an economic standpoint.

The first part of the book informs us about many things we already aware of but expands upon it through the various academic fields already noted above. The second part of the book is the "solution part." What the author thinks can be done to change the current pattern. Here's where it can get sticky for some. The solution Frank offers from his research is a thesis on Human Behaviour, and he proposes a "political-economic" solution: taxing consumption. The solution is the part of this work that leads to the economic analysis of the "hypothetical" once again, and there's nothing wrong with that. Although theoretical, the first part is interesting, and the second part may be for some.

The Worst Book To Ever See the Light of Day
I'm concerned with many of the summaries offered of the book's main points. I cannot help but feel that most criticisms of Frank's book come from those opposed to taxation, especially progressive, as a general principle. Taken as a whole, that's fine- a discussion for another day, perhaps over Friedman's "Capitalism and Freedom" and Sen's "Development as Freedom." The problem is that it seems to give birth to partial quotations, accusations of returning to "planned economies," and the like.
Frank's book addresses many criticisms, although certainly not all. He does however take on those criticisms that seem, at least me, strongest and most common in the preceding "reviews" of his book. The proposal is not a call for a "planned economy,"- a point that Frank belabors convincingly. It is not an attempt to eat the rich- it is a proposal to _replace_ other taxes with this one.
Many reviews have also ignored Frank's incorporation of evolutionary psychology/biology in discussing his proposal. This alone makes the book a worthwhile read. Even if one disagrees with his solution, the consumer behavior that leads him to these conclusions is fascinating and to me seems true enough. This competitive behavior exists, of course, in varying degrees in different cases- a point not lost in Frank's book but absent in many, many reviews. This is not a crank's work- certainly many creeds for taxation are. But as is often the case, a sort of fundamentalist belief in the association of "free markets" and "freedom" have clouded the reasoning and patience of many reviewers here. ... Read more

Reviews (1)

Newbies and old hands will love this book!
As a "newbie" (someone new to alternative biking) I found this book fascinating, easy to understand, most informative, and full of fresh and new ideas. For example, I'd been stationed in Saigon once upon a time and wondered if I could ever buy a "dong wagon" (pedicab, a peddle-powered rickshaw). According to this book, not only could I do that, but it tells me how much, where, and how to get more information. (Okay, so you've never lusted after a dong wagon . . . there's more!) Various human-powered vehicles (hpv) are listed by groups, then individual products with photographs and text that are relevant, helpful, and beautifully illustrated and typeset. Catalog publishers would do well to study this book; the typesetter, desk top publisher, and graphic artist in me thrilled to the care and expertise shown throughout. Short biographical sketches of riders and makers spice the text, such as the story of Peter Carruthers, a spinal injury victim, who won a gold medal at the 1988 Seoul Paralympics and founded Bromakin Wheelchairs, makers of competition wheelchairs and hand-drive tricycles. Lest you think of tricycles as only the little bit you rode as a toddler, enCycleopedia (the proper spelling, not to suggest a typo in the Amazon copy of course) describes the Burrows Windcheetah (and its interesting makers, the Seat of the Pants Company), raced, and ridden to "set the British 'End-to-End' record from Lands End to John O'Groats at 41 hours and 4 minutes. The same rider, Andy Wilkinson, had set the previous record a few years earlier on a conventional bike-four hours slower" (p. 87). enCycleopedia is chock full of such vignettes that humanize cycling. The publishers also publish Bike Culture Quarterly (BCQ), and enCycleopedia devotes some pages to the BCQ sort of "forum for new ideas in cycling", including not only technical matters but examinations of the cycle cultures of various countries. A few pages show accessories, including the most beautiful photographs ! of a pedal system I have ever seen.Please email me if you have questions about this wonderful book. I can't recommend it too highly to bike enthusiasts, those who love mechanical things and the illustrations thereof, devotees of the graphic display of visual information, and anyone who wants to see how National Geographic would produce a Sharper Image catalog. If the scoring system went to 12 I'd give this book a 15. ... Read more