English term
Veblen good
Additionally, whether or not foreign workers view Saudi Arabia’s labor market as a Veblen good has different repercussions for the policy’s future effectiveness. For instance, if we assume that the policy’s primary objective has been to curb foreign worker flows into the country, then the policy did not accomplish its goals (yet). (Georgetown Public Policy Review)
A Veblen good does not adhere to the traditional laws of price and demand. Below a certain price, the price/demand dynamics are consistent with conventional products – higher prices result in a lower demand. However, above a certain price, this relationship reverses, and demand rises along with price increases. (Forbes)
UK housebuilders are marching upwards after Berkeley hiked its shareholder bung. The builder of Veblen-good towerblocks in subprime neighbourhoods will return an extra £455m over the next two years, on top of a £280m per annum already announced. It’ll be in a tax-streamlined B and C share structure that supersedes the current £140m dividend cost, with £500m going back to investors in March 2020 at 400p per share and in March 2021 at 440p. (Financial Times Alphaville)
Aug 1, 2020 00:44: changed "Kudoz queue" from "In queue" to "Public"
Aug 7, 2020 00:55: changed "Stage" from "Preparation" to "Submission"
Aug 10, 2020 01:55: changed "Stage" from "Submission" to "Selection"
Aug 10, 2020 03:54: changed "Stage" from "Selection" to "Completion"
Proposed translations
베블런재
이른바 ‘명품의 경제학’이 적용되는 재화가 베블런재(Veblen goods)다. 베블런재는 사람들의 선호가 가격형성에 직결되고, 가격이 오르면 오히려 선호도가 높아지는 재화를 일컫는다. (한국경제신문)
애플과 삼성의 스마트폰은 에르메스 핸드백이나 부가티 자동차 같은 명품처럼 다른 사람들에게 자신의 경제적 부를 과시하는 재화인 이른바 '베블런재'가 될 가능성이 있다는 것이다. (파이낸셜뉴스)
하지만 베블런의 격정적 깨우침에도 불구하고 요란한 껍질로 소비자의 호주머니를 터는 베블런재(財)는 이제 특수 분야를 넘어 일상적 분야까지 침투하고 있으니 참으로 역설적이다. (매일경제)
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