The Constant Validation Spending Economy. Nelson Schwartz, NYT. @NelsonSchwartz

May 03, 2016, 04:12 AM

05-02-2016 (Photo: #NorwegianLine) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules http://johnbatchelorshow.com/blog Twitter: @BatchelorShow The Constant Validation Spending Economy. Nelson Schwartz, #NYT. “Next year, #CrystalCruises will begin an airborne version of one of its luxury ships: a customized #Boeing 777 that ferries passengers on 14- or 28-day trips around the world. “In theory, according to Steve Tadelis, a professor of economics at the Haas School of Business at Berkeley, “when an industry is able to create a richer line of products for people looking to spend their money, that makes everybody happier. But getting it right in reality is very, very hard.” As companies separate their clientele, a debate has developed over just how obvious the distinctions should be. Some experts, like David Clarke, who works with leisure industry giants as a principal at #PricewaterhouseCoopers, say that it is best to be open about what amounts to a money-based caste system. “It’s about transparency,” he said. “What customers hate is when you’re trying to hide stuff and are not being honest with them.” “Many companies, though, have discovered that offering ordinary customers just a whiff of the rarefied air can actually enhance the bottom line, even if it stirs a certain amount of envy and resentment…. http://www.nytimes.com/2016/04/24/business/economy/velvet-rope-economy.html?_r=1