Before the turn of the century, Jim Taylor and Watts Wacker wrote "The 500 Year Delta", and I recall the mention of "Downward Nobility"

Checking on that, it really refers to products, not people. Insane ostentation is still the rule, with mega-yachts and buying up most of Hawaii, the "norm".

I thought it would be more like myself, wanting not to be a prince, and certainly not wanting to look like one, but to live like one. That hasn't exactly worked out, but my slobbovian clothing is genuine.

Wolves in sheep's clothing.