Knowing Luxury: From Socio-Cultural Value to Market Price?

2016 ◽  
Author(s):  
Joanne Roberts ◽  
John Armitage
Keyword(s):  
Market Price ◽  
Cultural Practice ◽  
Cultural Value ◽  
Luxury Goods ◽  
Goods And Services ◽  
Market Valuations

This chapter is concerned with the epistemology — or the nature and scope of knowledge — about luxury. The purpose here is not merely to define luxury but, rather, to explore how luxury is known and how this knowing is influenced by the rise to dominance of markets in the neoliberal era. Following an examination of the various meanings of luxury evident in current debates, the nature of knowledge and knowing is considered before knowing luxury goods and services is explored. Two distinct forms of knowing luxury are identified in this chapter: the first based on socio-cultural practice-based understandings and the second on market valuations. The chapter then argues that the privileging of the market under neoliberalism is leading to a shift in the nature of knowing luxury from the first to the second of these two forms.

scholarly journals Assessing Damage to Archaeological Heritage in Criminal and Administrative Proceedings

Heritage ◽  
2019 ◽  
Vol 2 (1) ◽  
pp. 408-434
Author(s):  
Ignacio Rodríguez Temiño
Keyword(s):  
Market Price ◽  
Economic Assessment ◽  
Cultural Value ◽  
Archaeological Heritage ◽  
Immovable Object ◽  
Administrative Proceedings ◽  
Act Assessment ◽  
Archaeological Objects ◽  
Case Based ◽  
Broad Consensus

The economic assessment of damage to movable and immovable objects considered part of archaeological heritage is a matter of increasing interest, both at the legal level and in terms of government management. The primary reason for this interest is the urgent need to agree on a sound and reliable approach to economically quantifying not so much the cultural value of the damage caused as the civil liability for having caused it in those cases in which it was produced by a harmful human act. Assessment methods require a broad consensus to be considered reliable. The lack of consideration given to this matter has only made the absence of such a consensus more acute. This paper offers a mainly Spanish case-based analysis of the most common valuation methods for both movable and immovable archaeological objects. With regard to movable objects, it examines the problems involved in both the exclusive use of an object’s market price as its cultural value and the lack of justification for the chosen valuation system, concluding that current methods are insufficient. This insufficiency, also perceived by the authors of the expert reports used in the analyzed proceedings, has been dealt with arbitrarily. With regard to immovable object, it concludes that the systems currently used to assess the damage to sites are likewise insufficient, despite having been legally acknowledged in some cases. This paper will thus examine the methods used in environmental assessments—whose parallels with archaeological heritage are clear—and proposes that they be adapted for this purpose.

scholarly journals Factors Affecting the Effective Functioning of Public Procurement in Public Universities of Ethiopia

2020 ◽  
Vol 8 (6) ◽  
pp. 2095-2102
Keyword(s):  
Audit Committee ◽  
Public Universities ◽  
Public Procurement ◽  
Market Price ◽  
Factors Affecting ◽  
Internal Auditors ◽  
Goods And Services ◽  
Effective Functioning ◽  
Negative Effect ◽  
Tax Payers

Ethiopian Universities are fully dependent on government’s budget and procurement budget comes from tax payers. However, there is misappropriation of procurement budgets. Recently, procurement budget deficit has been observed in Public Universities of Ethiopia and 10 to 100 million Ethiopian birr have been wasted through non-transparent procurement systems. Employees also have been complaining about the quality of goods and services in every meetings held. Delays, poor qualified products and services, over pricing compared to the actual market price are the basic problems observed in procurement functions. Hence, this study aimed at identification of the basic factors that affect the proper functioning of public procurement practice in Public Universities. Analysis was made based on 351 selected respondents from 9 of the public Universities. Those employees who have direct relationship with public procurement were selected from top, middle and lower levels. Specifically, procurement workers, procurement and audit committee and internal auditors were participated. Multiple regression was employed and data was run by SPSS version 20. Tables were used for ease of interpretation. The regression results revealed that, public procurement policy, legal environment, organizational structure, employee ethics, ICT and management of suppliers have positive significant effect on the effective functioning of public procurement practice. However, budgetary allocation has insignificant and negative effect on the effective functioning of public procurement practice. Amending existing procurement guideline, open discussion with the nearby suppliers, continual ethics training for procurement workers and installing ICT platforms were found to be the possible recommendations.

scholarly journals Mekanisme Pasar Dalam Perspektif Ekonomi Islam

2018 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Yenni Samri Juliati Nasution
Keyword(s):  
Supply And Demand ◽  
Market Price ◽  
Market Mechanism ◽  
Fair Price ◽  
Market Mechanisms ◽  
Role Of Government ◽  
Demand And Supply ◽  
Goods And Services ◽  
Important Position

The market is a mechanism for the exchange of goods and services that nature. The market price is formed by a variety of factors which later formed the demand and supply of goods and services. Consumer demand is influenced by many factors, such as price, consumer income, tastes, expectations and level <em>mashlahah</em>. Quote manufacturers also influenced by many factors, such as<em> mashlahah</em>, profits, and prices. Interaction of supply and demand will establish the balance point can be changed from the demand side or the supply, either due to the deviation of structured and unstructured deviation. Perfectly competitive market can generate a fair price for the seller and the buyer. Therefore, if the market mechanism is interrupted, then the fair price will not be achieved. Islam puts the market at an important position in the economy. And very concerned about the concept of a fair price and perfect market mechanism. So, the role of government is very important to better ensure the activities of market mechanisms as perfect as taking a policy of price intervention that is based on justice.

Critical Luxury Studies

2016 ◽  
Keyword(s):  
Case Studies ◽  
Market Price ◽  
Cultural Value ◽  
Luxury Consumption ◽  
Aesthetic Design ◽  
Production And Consumption ◽  
The Social ◽  
Spatial Construction

This book presents an examination of the relations between historical and, crucially, contemporary ideas of luxury. The book provides a technocultural focus on aesthetic, design-led media practice with key case studies, including Hiroshi Sugimoto's Silk Shiki for Hermès, the plain white T-shirt, and Louis Vuitton Moët Hennessy (LMVH). To understand luxury, the book considers the socio-cultural value and market price of luxury; the desire for luxury; the social and spatial construction of luxury; the object and art of luxury consumption; architecture as a luxury commodity; and geographies of production and consumption, as illustrated by the Louis Vuitton website.

scholarly journals Consuming children and making mothers: birthday parties, gifts and the pursuit of sameness

2007 ◽  
Vol 13 (28) ◽  
pp. 263-287 ◽  
Author(s):  
Alison J. Clarke
Keyword(s):  
Material Culture ◽  
Social Process ◽  
Cultural Practice ◽  
Popular Discourse ◽  
Spoken Discourse ◽  
Goods And Services ◽  
Birthday Party ◽  
Care Givers ◽  
The Social ◽  
The Right

Children's birthday parties, and related consumption, form an integral part of the social process of mothering in contemporary consumer culture. From the choosing of the 'right' present to the arrangement of the 'appropriate' party theme, an enormous pressure is exerted upon mothers to maintain social equilibrium through the circulation of their children and gifts amongst and across households. Ethnographic research in Britain suggests that the economic growth of children's party provision and services is coupled with a popular discourse that laments the loss of 'authentic' kinship-based birthday parties and home-made provisioning. In contrast to this spoken discourse, this article reveals how women in fact avidly embrace market goods and services; as a means of generating a culture of sameness that avoids the risks (to the motherhood as a collective, localised phenomenon) of exceptional or overtly accomplished mothering. Commercialised, mass produced goods and birthday services are used as a means of limiting expressive gift relations and hospitality. In this sense, the search for sameness, through the cultural practice of making children's parties, is at once liberating and potentially oppressive in its strive for the normative and its inadvertent exclusion of 'other' care-givers. Furthermore, children and their related material culture are consumed, through the birthday party circuit, as a means of generating specific types of mothering.

Lifestyles of the Rich and Infamous: The Creation and Implications of China’s New Aristocracy

2011 ◽  
Vol 10 (4) ◽  
pp. 488-507 ◽  
Author(s):  
Karl Gerth
Keyword(s):  
Political Power ◽  
Contemporary China ◽  
Reform Era ◽  
Luxury Goods ◽  
Goods And Services ◽  
The Creation ◽  
The Rich

AbstractThis essay examines how the consumption of luxury goods and services in contemporary China has become a key way of defining membership in what Chinese popularly refer to as the “new rich” (xin fu) or “new aristocracy” (xin gui). During the Maoist era (1949-1976) and extending into the first decade of the Reform Era in China (1978-1988), political power bestowed modest material advantages. But now state officials can directly - or indirectly via their friends, family, and even mistresses - convert political power into wealth and pursue more luxurious lifestyles, fueling both popular desire for the lifestyles of the rich and a deep resentment based on the belief that many of the new rich secured access to those lifestyles through graft.

scholarly journals alteration in GDP due to new methods

2019 ◽  
Vol 15 (4) ◽  
pp. 224-242
Author(s):  
Simran Nagra
Keyword(s):  
Growth Rate ◽  
Data Analysis ◽  
Gross Domestic Product ◽  
Market Price ◽  
Domestic Product ◽  
Programme Implementation ◽  
Data Bases ◽  
Goods And Services ◽  
New Methods ◽  
Central Statistical

Gross Domestic product is the final value of goods and services produced within the geographical boundaries of a country during a specified period of time, normally a year. This single word is wide concept in itself which display the entire scenario of an economy. The change in the GDP calculations was devised by India’s statisticians working for the central Statistical Organisation that is under the Ministry of Statistics & Programme Implementation (MOSPI), who released the new figures. There have been no changes so far in calculation of GDP leaving shift in base year. Changes have occured in GDP analysis like GDP which used to calculate at factor cost has been converted into market price and Central statistical organisation (CSO) has broadened the base to collect data analysis. Changes are  making the increment in gross domestic product (GDP) by more than 40 per cent from 4.7 per cent in FY 2012-13 to 6.9 per cent (2013-14). This 40 per cent increment is due to change in methodology.The relevant data were collected from the specified documents, economic surveys and compiling data bases in order to analyze the material and arrive at more accurate comprehension regarding the data analysis of growth rate in the wider terms. The paper has shown that alterations which have been adopted, all are lifting the growth rate up whether it’s being due to change in method or being consideration of GDP deflators.

scholarly journals Impact of COVID-2019 pandemic on global luxury goods and services market: new challenges for digitalization, social and cultural aspects

2021 ◽  
Vol 3 ◽  
pp. 162-176
Author(s):  
Анастасия Шоломова ◽  
Ирина Скоробогатых ◽  
Николай Перепелкин ◽  
Максим Коромыслов
Keyword(s):  
Luxury Goods ◽  
Cultural Aspects ◽  
Goods And Services ◽  
New Challenges

Interval Perception of Information and Consumer Behavior: Methodological Aspects

2007 ◽  
pp. 60-70
Author(s):  
D. Davydov
Keyword(s):  
Consumer Choice ◽  
Market Price ◽  
Interval Uncertainty ◽  
Subjective Perception ◽  
Economic Agents ◽  
Goods And Services ◽  
Economic Decision Making ◽  
Interval Approach ◽  
The Difference ◽  
Methodological Aspects

The article stresses the difference between objective presence and subjective perception of information by economic agents. The author considers some psycho-physiological aspects of information perception which are directly connected with the processes of economic decision-making. The article also discusses theoretical problems of modeling the perception of information about prices and quantities of goods and services on the part of consumers. Interval approach for uncertainty description is offered, the general consumer choice problem in case of interval uncertainty is formulated, and some practical issues in market price formation, the role of savings and macroeconomic equilibrium are discussed.

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