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05/25/2008: "Race And Conspicuous Consumption"

To examine spending by racial groups, Roussanov and his colleagues studied data collected from 1986 to 2002 for the Consumer Expenditure Survey conducted by the federal Bureau of Labor Statistics. Blacks and Hispanics spend up to 30% more than whites of comparable income on visible goods like clothing, cars and jewelry, the researchers found. This meant that, compared to white households of similar income, the typical black and Hispanic household spent $2,300 more per year on visible items. To do that, they spent less on almost all other categories (except housing), and they saved less.

Visible items are those others can see when one is in public. The researchers found that blacks and Hispanics do not spend more than whites on items such as home furnishings that could serve as status symbols but aren't seen by as many people.

This may explain the chief exception the researchers found in the data: Older people don't spend more on visible goods, even if their incomes are the same as those of younger people who do. Perhaps it's the wisdom of age, or the fact that older people grew up in "different
times." But it's more likely, says Roussanov, that older people, regardless of their community, don't need status symbols as much because they're generally not out hunting for jobs and mates.

[ Non whites living in the west leave have a bigger negative effect on the environment, both socially, genetically and in terms of their impact on the ecology. ]

http://www.forbes.com/entrepreneurs/2008/05/19/race-culture-marketing-ent-sales-cx_kw_0519whartonconsumption.html