Conspicuous Consumption

conspicuous consumption

Luxury yachts are popular vehicles for displaying wealth.

Definition

Coined by economist and sociologist Thorstein Veblen, the phrase conspicuous consumption 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]

See also

 

References

  1. ^ American Marketing Association, AMA Dictionary.

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