Man created cars for faster travel, then some men created luxury cars to help consumers portray their prestige.
God created water for survival, Man bottled the water for convinience. Some men over-bottled (is that even a word?) water and sold it at premium price to help consumers portray their prestige and status (Bling Water starting $40 - $2600)
Man created credit card for convinence, then American Express introduced its Black Card (a Card for the elite that cost $5000 to signup)
Man created slimmer TVs for efficent energy consumption, iPads for convinence, but do we get them for those reasons?
Why do kids buy branded clothing, why do people buy new slightly more expensive car? Why must we have the better features in our kitchens and computers when we are never going to use it.
“Its called conspicuous consumption.
Conspicuous consumption is spending on goods and services acquired mainly for the purpose of displaying income or wealth. In the mind of a conspicuous consumer, such display serves as a means of attaining or maintaining social status."
We make decisions emotionally and justify it logically. Our logic is a veil for our emotional stupidity.