CONSPICUOUS CONSUMPTION Meaning and
Definition
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Conspicuous consumption refers to the practice in which individuals visibly and extravagantly display their wealth and economic status through the acquisition of luxurious and often unnecessary goods and services. The term was first coined by economist and sociologist Thorstein Veblen in his 1899 book "The Theory of the Leisure Class."
Conspicuous consumption is driven by the desire to showcase social prestige, power, and social standing. It is a form of conspicuous display or show of wealth, where individuals intentionally seek out and purchase expensive items, such as luxury cars, designer clothing, high-end jewelry, and lavish vacations, in order to be seen and admired by others.
This type of consumption is often associated with individuals who belong to the upper class and have substantial discretionary income. Conspicuous consumption reinforces social hierarchies by giving those who can afford these extravagant goods and services a sense of superiority and distinction over others.
While individuals engage in conspicuous consumption to enhance their social status, it also serves as a means for companies and businesses to fuel consumerism and create demand for their luxury products. By promoting the idea that wealth and material possessions can lead to happiness and social acceptance, businesses capitalize on individuals' desire to conform to societal norms and participate in the conspicuous consumption phenomenon.
Conspicuous consumption, however, has received criticism for its environmental impact, materialism, and perpetuation of social inequalities. Critics argue that it promotes a culture of overconsumption, which depletes natural resources and exacerbates socio-economic disparities by increasing the gap between the rich and the poor.
Common Misspellings for CONSPICUOUS CONSUMPTION
- xonspicuous consumption
- vonspicuous consumption
- fonspicuous consumption
- donspicuous consumption
- cinspicuous consumption
- cknspicuous consumption
- clnspicuous consumption
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- c0nspicuous consumption
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- cobspicuous consumption
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- cojspicuous consumption
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- conapicuous consumption
- conzpicuous consumption
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- condpicuous consumption
- conepicuous consumption
Etymology of CONSPICUOUS CONSUMPTION
The term "conspicuous consumption" was coined by the American economist and sociologist Thorstein Veblen in his book "The Theory of the Leisure Class", published in 1899. The word "conspicuous" comes from the Latin word "conspicuus", meaning "visible" or "remarkable". "Consumption" refers to the act of using or spending resources, particularly in relation to goods and services.
Veblen used the term to describe the practice of wealthy individuals flaunting their wealth through lavish and extravagant spending on unnecessary goods and services. He argued that such behavior was driven by the desire to display one's social status and to gain admiration and respect from others. Conspicuous consumption became a key concept in Veblen's critique of the capitalist society, highlighting the role of materialism and social class in shaping our consumption patterns.
Idioms with the word CONSPICUOUS CONSUMPTION
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conspicuous consumption
Conspicuous consumption refers to the practice of purchasing and displaying luxury goods or services in order to flaunt one's wealth and social status.
