How did expensive taste evolve to pulled back vs something extravagant?

I often encounter briefs that say "make it look expensive" and there's a universal understanding what it means. Ranging from minimalist chic, detailed but edited with restraint, to quality materials.

And how anything that tries to look expensive by being extravagant, adding bling often comes across gaudy, tacky or cheap.

I'm wondering if there's a book that chronicles this, so that there's more of a historical or socioeconomic reference I can use.

Thank you.

Great design resource

100 Things Every Designer Needs to Know About People (Voices That Matter) Submitted May 25, 2019 at 05:44AM by wiklr http://bit.ly/2X1a5za