The latest ASI paper, "The New Aristocrats – a cultural and economic analysis of the new status signaling" has featured in the Mail Online. The paper argues that virtue signaling is the new conspicuous consumption, when it comes to showing off status.
Forget a four-wheel drive, loft extension and long-haul holiday. To keep up with the Joneses, all you need do show off your green credentials.
Economists said that ostentatious displays of wealth have fallen out of fashion - and are even seen as crass.
Instead, conspicuous donations to charity, buying second-hand clothes, collecting 'useless' university degrees, using politically correct language and making a point of not watching television are all signs of status.