Conspicuous Consumptions

Thornsteing Veblen (1857 - 1929) 

Known for his book 'The Theory of the Leisure Class' introduced the term "Conspicuous Consumption" 

"Wealthy individuals often consume highly conspicuous goods and services in order to advertise their wealth, thereby achieving greater social status".

'As an absolute concept, it evokes images of rich & powerful individuals' 

'A signal of rank' - Podolny, 2008. 

One's rank was demonstrated by their 'ability to sacrifice productive resources to buy non productive items' - Bataille & Hurley, 1991. 

Mason

& 

T.Stanley & W.Danko

• Consumption has evolved from satisfying needs to satisfying (and creating) wants and desires...
• Inconspicuous consumption is just as important that conspicuous consumption e.g. materialism
• People consume consciously & unconsciously