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The word luxury has always been a source of discussion of what it is supposed to mean. This is the reason we added this chapter in the second edition of this book and have kept it since then. Since we are going to write about luxury along with text and diagrams, it only makes sense to explore the intricacies of what is meant by such a popular word. In this fourth edition we have added a section on the meaning of the expression new luxury, whose usage has been growing in the past few years.