Juliet Schor presents original research showing how keeping up with the Joneses has evolved from keeping pace with one's neighbors and others in a similar social set to keeping up with a referent group that may include co-workers who earn five times one's own salary or television "friends" whose lifestyle is unattainable for the average person.

The book also describes the growing backlash of people who are "downshifting" by working less, earning less, and finding balance by getting their lifestyles in sync with their values.