The “Diderot Effect,” Understanding the Six Affluent Life Styles
Richard Baker, CEO of Premium Knowledge Group and Founder of The Luxury Marketing Council of Texas, shares insights from his forthcoming book, “The Future of Luxury: The Peacock and the Prius", with Luxury Society members. “Life style” is the result of a pattern of decisions made regarding how to spend, invest, give away or save time, money, attention and other scarce resources, which reflects a basic set of values. It is the organizing principle for the accumulation and signaling of social capital, i.e. wealth.