As long as there are The Rich, there will be conspicuous consumption.

[Archae]

Lavish parties.

$200,000 meals. (For one!)

Bigger and bigger yachts.

Bigger and bigger mansions.

Umpty-thousand $$$ cars.

Private luxury jets.

Has this ever been different? No.
Even in ancient times it was common.

What can you and I do about it? Not much.
Our politicians seem to be (for the most part) leery of using the law on people who are conspicuously wealthy through deception, thievery and cheating.

[Joe Shlabotnik]

1. As long as the competition to keep up with Joneses continues,

(even if it means hobbling Mr. Jones), and as long as we worship and emulate them with petty-conspicuous consumption, then we'll keep feeding their habit.