Conspicuous Consumption

Conspicuous consumption is the spending of money for and the acquiring of luxury goods and services to publicly display economic power—either the buyer’s income or the buyer’s accumulated wealth. Sociologically, to the conspicuous consumer, such a public display of discretionary economic power is a means either of attaining or of maintaining a given social status. Moreover, invidious consumption, a more specialized sociologic term, denotes the deliberate conspicuous consumption of goods and services intended to provoke the envy of other people, as a means of displaying the buyer’s superior socio-economic status.

Read more about Conspicuous ConsumptionHistory, Distinctions of Type, Consumerism Theories, Solutions

Other articles related to "conspicuous consumption, conspicuous, consumption":

The Theory Of The Leisure Class - Conspicuous Consumption and Leisure
... of the Leisure Class An Economic Study of Institutions (1899), Veblen presented the concepts of conspicuous consumption and conspicuous leisure ... Conspicuous consumption is the application of money, and other resources, to display a higher social-status, e.g ... Conspicuous leisure is the extended length of time that a person devotes to pleasurable pursuits that grant him or her a higher social-status for example, to be a gentleman, a man must study philosophy and the fine arts ...
Anti-consumerism - Politics and Society - Conspicuous Consumption
... more specific excuse or rationalization for consumption other than the idea that they are "compelled to consume" ... them to identify like-minded people through consumption and display of similar products ... The older term conspicuous consumption described the United States in the 1960s, but was soon linked to larger debates about media influence, culture jamming, and its ...
Bourgeoisie - Bourgeois Culture
... The bourgeois mentality of conspicuous consumption The critical analyses of the bourgeois mentality by the German intellectual Walter Benjamin (1892–1940) indicated that the shop culture of the petite ... house contained a home that had been remodelled by conspicuous consumption, whereby the goods were bought to display wealth (discretionary income), rather than for their practical utility ... timid conformist satisfied with a wealthy, consumerist style of life characterised by conspicuous consumption and the continual striving for prestige ...
Conspicuous Consumption - Solutions
... goods and services that are considered commodities for conspicuous consumption is a type of progressive sales tax that internalizes the negative externality associated with the conspicuous ... stock of high-status (positional) goods is diminished, in relation to the stocks of other conspicuous consumers, as they increase their consumption of ... In the case of conspicuous consumption, taxes upon luxury goods diminish societal expenditures on high-status goods, by rendering them more expensive ...

Famous quotes related to conspicuous consumption:

    The hippie is the scion of surplus value. The dropout can only claim sanctity in a society which offers something to be dropped out of—career, ambition, conspicuous consumption. The effects of hippie sanctimony can only be felt in the context of others who plunder his lifestyle for what they find good or profitable, a process known as rip-off by the hippie, who will not see how savagely he has pillaged intricate and demanding civilizations for his own parodic lifestyle.
    Germaine Greer (b. 1939)

    Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.
    Thorstein Veblen (1857–1929)