Conspicuous Consumption

Definition

Conspicuous consumption is a term coined by economist and sociologist Thorstein Veblen. This phrase describes consumption for the sake of displaying to others wealth, power, or prestige. Usually it is applied to expensive or luxury goods rather than everyday items.[1] For more information, see the Wikipedia entry titled “Conspicuous consumption.”

See also

 

References

  1. ^ American Marketing Association, AMA Dictionary.

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