conspicuous consumption


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conspicuous consumption

The lavish expenditure of money or acquisition of expensive items as a public display of one's wealth or financial success. In rapidly developing economies, conspicuous consumption becomes more and more prevalent as a means for those who have done well to flaunt their new economic status.
See also: conspicuous

conspicuous consumption

Showing off one’s material wealth. The term was coined by the American economist Thorstein Veblen in The Theory of the Leisure Class (1899), where he roundly criticized the well-to-do (leisure class) for preying on the rest of society and then flaunting their acquisitions. The term, always used as critically as by its author, has become a cliché.
See also: conspicuous
References in periodicals archive ?
What we do learn is that issues of conspicuous consumption really matter in international relations.
The role played by brands and consumers' consciousness is more prominent when conspicuous consumption behaviour of consumers, i.e.
Thus, the purchase behavior was influenced by all of the propensities for conspicuous consumption, impulsive consumption, habitual consumption, and purchase intention.
Therefore, high-power individuals would not try to attract the attention of others through conspicuous consumption, and the level of their consumption would not be affected by whether or not they are in social exclusion or inclusion.
Conspicuous consumption, however, is not just practiced by the leisure class; it becomes a convenient means, in an increasingly fractured urban society, for all classes to illustrate their worth.
Put another way, to him, conspicuous consumption was nothing more than spending more money on goods than they are worth.
While the term bragging rights is not common in academic literature, related terms such as 'conspicuous consumption', 'status consumption" "cool consumption' and 'social desirability' are more prevalent.
This is because we live in an era of conspicuous consumption where we are desperate to prove we are having more fun and spending more cash than the next person.
I think that it would be a good thing if the whole idea of conspicuous consumption was buried.
Resorts could suffer as conspicuous consumption dies.
He has studied, for example, the importance of signaling in explaining the conspicuous consumption patterns across races, and the role that parents play in shaping their children's saving propensities.
NEW YORK -- An ongoing consumer paradigm shift in attitude toward less conspicuous consumption means high-flying fashion eyewear brands may suffer at the expense of less expensive alternatives.
A recession invariably puts conspicuous consumption on hold.
Some of this activity is about family and friends, but there's a lot of conspicuous consumption taking place too.
"In the past, travelling by air in Turkey was considered to be a conspicuous consumption. Today, every one in Turkey can travel by air.