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Possible Answers:
DECADENCE.
Last seen on: Vulture Thursday, 2 November 2023 Crossword Answers
Random information on the term “Luxury”:
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. Luxury goods is often used synonymously with superior goods.
The word “luxury” derives from the Latin verb luxor meaning to overextend or strain. From this the noun luxuria and verb luxurio developed, “indicating immoderate growth, swelling, … in persons and animals, willful or unruly behavior, disregard for moral restraints, and licensciousness”, and the term has had negative connotations for most of its long history. One definition in the OED is a “thing desirable but not necessary”. A luxury good can be identified by comparing the demand for the good at one point in time against the demand for the good at a different point in time, at a different income level. When personal income increases, demand for luxury goods increases even more than income does.