According to the material from Wikipedia, Luxury - is a socio-economic phenomenon associated with the consumption of goods.
But what is really standing behind the concept of "Luxury"? I think no one can give an exact answer. Nowadays Luxury has different understanding for every particular person.

There are those goods (as well as costs for their upkeep), the possession of which is not caused by the moral and economic interests of society.

However we should not forget that every coin has two sides. On the one hand meet the needs should not be not less than norms, sufficient to maintain vital activity. In this case, we can recall the well-known Maslow´s pyramid. On the other hand the desire to comfort is the engine of progress.

There are many things that were considered a luxury before, but now they came into general use and even served to meet the required needs. It is concluded therefore that it is not necessary to condemn the Luxury. Luxury, being a tool of progress, is expanding the scope of our needs and contributing the rise of the welfare.
Also Luxury is the source of generation and accumulation of capital, employs a huge number of people, restricts the growth of the population and even smoothes social inequality.

However Luxury loses all its attraction for rich people, as soon as it becomes available for people with limited income. Luxury´s „backside“ in this case can be seen in the forms of manifestation of „Fashion“, that is designed to break down, and keeps more prosperous classes of the population in a feverish state of stress.

In the Middle Ages, many great thinkers such as Luther, Calvin, Pascal, Fenelon, J.-J. Rousseau have struggled with displays of luxury and as the result they have changed the history. Calvin, for example, has launched the development of horology, which led the development of one more indicator of luxury– watches. there is some irony, isn´t it?

In my opinion Luxury must have a place in our lifes as stimulus for development of progress, but not as an example of a stupid waste. It must be remembered that excess does not bring pleasure.

Luxury for me is the period of life when I have my harmony in everything: at work and at home, when I can focus on myself. That amazing time when all things are established and working better than a Swiss watches. The time when I have an opportunity to plan and have enough time for every aspect of my life. This is a luxury for me to establish my life like clockwork.
There is an opportunity to spend more time with my family and friends, because like Exupery once said, what the greatest luxury on earth which is available to any beggar – is luxury of human communication.