Study 23: Value Beyond Price: David Graeber and the Political Economy of Post-Luxury Objects

The global luxury market is not in a recession; it is in a profound crisis of meaning. When a $10,000 handbag is aesthetically identical to a $100 replica, what are you actually paying for? For decades, the industry operated on a collective belief, but now that belief is collapsing. This "luxury fatigue" is the symptom of a system that, in its pursuit of scale, has hollowed out its own value. The "sign" has become fatally detached from substance. This study argues that this "narrative breakdown,"