What is a positional good? Recovering Hirsch’s insights

Abstract ‘Positional goods’, a term coined by Fred Hirsch, is an important concept in economics, social sciences and philosophy; however, it is used in different ways. This paper recovers Hirsch’s concept of positional goods as scarce goods that are fixed or near-fixed in supply and argues for the usefulness of this concept. Hirsch’s concept may have explanatory power beyond the concept used by most economists – that of Robert Frank. Moreover, Hirsch’s concept is more explanatorily basic and useful than the concept used by most philosophers – that of Brighouse and Swift.