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Back in the second century B.C., Ms. Thomas writes, "The display of luxury signified one's power and achievements and brought on both scorn and envy. 'Is it a waste or not?'

Luxury diminished →

She writes, "Marc Jacobs is the most influential creative voice in luxury fashion today. As creative director of Louis Vuitton, the world's largest luxury goods company, Jacobs oversees the studio that in the last decade has produced sumptuous and witty versions of the classic Vuitton monogram handbag — like the denim jacquard one trimmed in chinchilla — that have sold by the millions."

Luxury diminished →

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