Democratizing a luxury good diminishes its quality.
Sunday, September 21st, 2008The wine world is changing. Wine is changing. Amidst recurring discussions of trends and the globalization of wine (as a result of the influence of a purported small cabal of people), and murmurs that not every wine-producing region has the stuff to make world-class, complex wines, there is one essential point that goes unmentioned:
Democratizing luxury goods - making them appealing and accessible to the average consumer - devalues them and causes a decline in quality standards.
A luxury commodity is devalued by democratization because increased supply makes the good more common and, thus, less desirable. This seems to be the basic tenet of this book. Additionally, quality inherently declines with increasing volume of production. (more…)




