What inferences can be made about the differences between the "old money" of East Egg and the "new money" of West Egg based on the two settings?

The eggs are identical in the formation in the Land of Enormous Eggs although a deep meaning behind the eggs reveals difference between the spent of money.

The West eggs are like the new money, that has no class and just ravishingly flashes their items. While the East Egg is described as old money, one with wise decisions in spending, leading a simple lifestyle.