How Does Each Person Qualify Luxury?

02.21.21

Each person has their own defintion of what the deem to be luxury. In economics, a luxury item is an item where the demand for the item increases as income increases, causing the expenditures on the good become a higher percentage of overall spending. This I believe is true only when speaking in the strict economic sense of the word luxury. I belive the whole idea of luxury is usually seen as a cultural or societal determination. I think that in the modern day, the concept of luxury is more determined by the individual than it is by the society. Sure, society can still determine whether a car or watch is nice or not, but the essence of luxury is more personal. For example, What I deem luxurious, a cup of hot tea, my duvet, and my dog, can be wildly different than the people I live with. I think that the transition of luxury from a societally determined idea to an individualized concpet has a lot to do with the fact the a person's economy has a lot more to do with one's own propoerty and not so much what society has decided to give you. Look at the medieval feudal system, the peasants, nobility, and royalty more or less decided what one had and what one did, and the idea of luxury was attributed to the experiences and objects that the nobility and royalty had in their possesion. With the slow disappearance of strict caste systems in many countries (but not all) has caused the idea of luxury has shifted. This is not to say that people in some countries are still slave to a classist society (even the United States in a sense), but even then the ability for people to make decisions on their own behalf that could affect their lives in a way that could allow them to achieve what they consider luxury. I think the process that each person goes through to decide whether something is a luxury or not has a lot to do with personal experience and the personal connotation that person has with that experience or object. Something can be a luxury because it makes one feel at home and content, while something else can be a luxury because it is a physically attractive or rare object. These factors play into a lot of daily decisions in our lives as deciding between the ordinary or necessity and the luxurious option is often the case for many people. THe luxurious option doesn't have to be wildly better or different than the ordinary, only different enough that it provides added value to the individual to warrant spending more resources on that item or experience as opposed to the ordinary or more resource efficient option. Then you have the luxury that isn't necessarily resource intensive, but quite cheap realtive to many things and it provides the same level of luxury that a more costly item or experience provides. I find this interesting to investigate as many things have no moved online and the more items or exeperiences we used to deem luxurious in the physical sense, how does this begin to change as we move our lives furhter into the virutal realm. Art and commmodities have already begun to exist entirely on the internet, so how does the concept of luxury shift again?