In many countries, a small number of people are able to purchase very expensive luxurious products. Some people believe that this is good for the economy, but others think that governments should not allow products above a certain price level. Discuss both these views and give your own opinion.

Richness goods are a symbol of prestige in an affluent society. While spending money on luxury product sounds like an ill-advised or irrational decision for many people, there are still the ones doing it eagerly. In

this

essay, I want to delve deeper into the pros and cons of

this

trend, clarifying why I believe the merits outweigh the backward and governments should not establish restrictions about prices. Both governments and small businesses can reap the advantage of purchasing expensive luxurious goods. Governments,

first

of all, can levy taxes based on the income and assets of individuals. The more prosperity they have, the more tax they pay. With a stronger source of income, governments would be able to curb rampant inflation and steer the economy in the right direction. Entrepreneurs and business owners offering

this

kind of item can

moreover

gain considerable profit through their operations, which means they need the labour force to meet the supply of their demand.

In other words

, there would be more job opportunities for those for whom extravagance products are not affordable. The other perspective comes from people caring about having an equal nation and the fashion of people. They claim that in a circumstance in which many people struggle and have a problem making a living, others squander on unnecessary items extravagantly.

That is

to say, the yawning gap between the affluent public and the poor gets wider and may cause social discontent. Many governments

furthermore

try to promote investment culture, which is in stark contrast with offering upmarket and classy products. The culture of consumerism will become the dominant culture of society if individuals are more concerned with the representation of their social status by utilizing luxury goods than real needs. To conclude, I believe if governments had distributed the revenue of luxury purchases in lower layers of society, it would be of everyone's interests. With proper management of economic turmoil, many people are encouraged to start profitable jobs, which will lead to economic prosperity.