T-Shirt and Shorts? You Must Be Really Rich

In Thorstein Veblen's day, the rich were so insecure they dressed in finery most uncomfortable. How else to show that they weren't manual laborers?

In today's Wealth Report (subscription), Robert Frank observes that the tables have turned:

As one Palm Beach banker who serves the rich told me recently: "The wealthy wear T-shirts and shorts every day, because they've earned that right. We work for them, so we wear suits."