Conspicuous Consumption

First published in 1899, The Theory of the Leisure Class, written by Norwegian American sociologist and economist Thorstein Bunde Veblen, introduced the concept of conspicuous consumption. Conspicuous consumption is the term that describes the tendency of individuals to purchase expensive products as an outward display of wealth and a means of enhancing their status in society. Veblen used the term to describe the phenomena of gaining and holding the esteem of others in society through the evidential display of wealth. In this way, an individual is attempting to prove that they have the financial means to afford a particular product. Conspicuous consumption is therefore closely linked to demonstrating status, success, and achievement.

It has long been considered that material possessions, capable of being observed in society, ...