Several weeks ago, at a birthday party, I found myself seated next to a Hermès sales associate. Of course, having written about the Birkin bag in econlife posts, I was delighted. Subjecting the poor woman to a barrage of questions, I discovered an expert who had actually been one of the few employees selected to visit the workshop in France where the bags are made. Rather than any economics of scarcity, her perspective was quality. She explained, with massive pride, the workmanship embodied by each inch of each handbag. Convinced that she was partially right, I wanted to sidestep disagreement. ….[READ]
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