Conspicuous consumption

Conspicuous consumption,

Definition of Conspicuous consumption:

  1. Extravagant and ostentatious expenditure. Conspicuous consumption is meant not to satisfy any physical need, but rather to gratify the psychological craving for status or the esteem of others. The term was first used by the US sociologist and economist Thorstein Bunde Veblen (1857-1929) in his 1899 book The Theory Of The Leisure Class..

  2. The term was coined by American economist and sociologist Thorstein Veblen in his 1889 book, The Theory of the Leisure Class. This type of consumption was considered to be a product of the developing middle class during the 19th and 20th centuries. This group had a greater percentage of disposable income to spend on goods and services that were generally not considered to be necessary.

  3. Conspicuous consumption is the purchase of goods or services for the specific purpose of displaying one's wealth. Conspicuous consumption is a means to show one's social status, especially when the goods and services publicly displayed are too expensive for other members of a person's class. This type of consumption is typically associated with the wealthy but can also apply to any economic class. The concept of consumerism stems from conspicuous consumption.

Synonyms of Conspicuous consumption

Carpe diem, Dissipation, Extravagance, Incontinence, Intemperance, Lavishness, Leaking purse, Loose purse strings, Overgenerosity, Overgenerousness, Overliberality, Pound-foolishness, Prodigality, Profligacy, Profuseness, Profusion, Reckless expenditure, Reckless spending, Squandering, Squandermania, Waste, Wastefulness

How to use Conspicuous consumption in a sentence?

  1. I admit that I spend a large amount of money on shoestrings for shoes I dont even own and will never buy, and I agree that nobody needs shoestring made out of gold or covered in diamonds, but it makes me feel good and my conspicuous consumption is my own affair and since I have money to burn, I shall do as I please.
  2. I noticed that my father fell under the conspicuous consumption spell because he started trying to show off all his money and assets to the world.
  3. Sometimes someone in your company may be having a problem with conspicuous consumption and you will need to ask them to stop.

Meaning of Conspicuous consumption & Conspicuous consumption Definition