Conspicuous consumption - Wikipedia

In sociology and in economics, the term conspicuous consumption describes and explains the consumer practice of buying and using goods of a higher quality, ... Conspicuousconsumption FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Conceptinsociologyandeconomy ThesociologistandeconomistThorsteinVeblencoinedtheterm"conspicuousconsumption",andwasapioneeroftheinstitutionaleconomicsmovement. 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EarthLiberationFront FifthEstate Freecycle GreenAnarchy InstituteforSocialEcology MonthlyReview RageAgainsttheMachine ReverendBilly TheVenusProject TheYesMen 350.org People JeanBaudrillard MauroBonaiuti NoamChomsky ErichFromm NicholasGeorgescu-Roegen EdwardGoldsmith PaulGoodman AndréGorz IvanIllich SergeLatouche DonellaMeadows PierreRabhi JohnRuskin E.F.Schumacher BernardStiegler HenryDavidThoreau Relatedsocialmovements Alter-globalization Amateurism Anarcho-communism Anarcho-primitivism Anarcho-punk Anti-capitalism Anti-corporateactivism Anti-globalizationmovement Communism Diggers(theater) Ecofeminism Eco-socialism Environmentalism Feminism FoodNotBombs Greenanarchism Greenleft Greenpolitics Hippie Libertariansocialism Neo-Luddism NewLeft OccupyWallStreet Postmodernism Punk Situationists Slowmovement Socialanarchism Socialecology Seealso Worksaboutconsumerism Advancedcapitalism Advertising Barter Capitalism Consumerbehaviour Consumption(economics) Consumption(sociology) Cooperative Counterculture Culturalhegemony Ecologicaleconomics Economicmaterialism Economicproblems Frugality Greeneconomy GrossNationalHappiness Heterodoxeconomics HosPex Influenceofmassmedia Informalsector Intentionalcommunity Left-wingpolitics McDonaldization Mutualaid Naturalresourceeconomics Non-monetaryeconomy Permaculture Post-materialism Productivism Shopping Socialmovements Subsistenceeconomy Sustainability Sweatshops Veblengood Workaholic vte Insociologyandineconomics,thetermconspicuousconsumptiondescribesandexplainstheconsumerpracticeofbuyingandusinggoodsofahigherquality,price,oringreaterquantitythanpractical.[1]In1899,thesociologistThorsteinVeblencoinedthetermconspicuousconsumptiontoexplainthespendingofmoneyonandtheacquiringofluxurycommodities(goodsandservices)specificallyasapublicdisplayofeconomicpower—theincomeandtheaccumulatedwealthofthebuyer.Totheconspicuousconsumer,thepublicdisplayofdiscretionaryincomeisaneconomicmeansofeitherattainingorofmaintainingagivensocialstatus.[2][3] ThedevelopmentofVeblen'ssociologyofconspicuousconsumptionalsoidentifiedanddescribedothereconomicbehaviourssuchasinvidiousconsumption,whichistheostentatiousconsumptionofgoods,anactionmeanttoprovoketheenvyofotherpeople;andconspicuouscompassion,theostentatioususeofcharitymeanttoenhancethereputationandsocialprestigeofthedonor;[4]thusthesocio-economicpractisesofconsumerismderivefromconspicuousconsumption.[5] Contents 1Historyanddevelopment 1.1Socialclassandconsumption 2Consumerismtheory 3Materialismandgender 4Distinctionsoftype 5Examples 5.1Luxuryfashion 6Criticism 6.1Inequalityanddebt 7Solutions 8Seealso 9References 10Furtherreading Historyanddevelopment[edit] InTheTheoryoftheLeisureClass:AnEconomicStudyintheEvolutionofInstitutions(1899),ThorsteinVeblenidentified,described,andexplainedthebehaviouralcharacteristicsofthenouveauriche(newrich)socialclassthatemergedfromcapitalaccumulationduringtheSecondIndustrialRevolution(1860–1914).[6]Inthat19th-centurysocialandhistoricalcontext,theterm"conspicuousconsumption"appliednarrowlyinassociationwiththemen,women,andfamiliesoftheupperclasswhoappliedtheirgreatwealthasameansofpubliclymanifestingtheirsocialpowerandprestige,eitherrealorperceived.Thestrengthofone'sreputationisindirectrelationshiptotheamountofmoneypossessedanddisplayed;thatistosay,thebasis"ofgainingandretainingagoodname,areleisureandconspicuousconsumption."[7] Inthe1920s,economistssuchasPaulNystromproposedthatchangesinlifestyleasresultoftheindustrialageledtomassiveexpansionofthe"pecuniaryemulation."[8]Thatconspicuousconsumptionhadinducedinthemassofsocietya"philosophyoffutility"thatwouldincreasetheconsumptionofgoodsandservicesasasocialfashion;consumptionforthesakeofconsumption. In1949,JamesDuesenberryproposedthe"demonstrationeffect"andthe"bandwagoneffect",wherebyaperson'sconspicuousconsumptionpsychologicallydependsupontheactuallevelofspending,butalsodependsuponthedegreeofhisorherspending,whencomparedwithandtothespendingofotherpeople.Thattheconspicuousconsumerismotivatedbytheimportance,tohimortoher,oftheopinionofthesocialandeconomicreferencegroupsforwhomheorsheareperformedtheconspicuousconsumption.[9][10] Socialclassandconsumption[edit] Veblensaidthatconspicuousconsumptioncomprisedsocio-economicbehaviourspractisedbyrichpeopleasactivitiesusualandexclusivetopeoplewithmuchdisposableincome;[8]yetavariationofVeblen'stheoryispresentedintheconspicuousconsumptionbehavioursthatareverycommontothemiddleclassandtotheworkingclass,regardlessoftheperson'sraceandethnicgroup.Suchupper-classeconomicbehaviourisespeciallycommoninsocietieswithemergingeconomiesinwhichtheconspicuousconsumptionofgoodsandservicesostentatiouslysignalsthatthebuyerrosefrompovertyandhassomethingtoprovetosociety.[11] InTheMillionaireNextDoor:TheSurprisingSecretsofAmerica'sWealthy(1996),ThomasJ.StanleyandWilliamD.Dankoreportedconspicuousfrugality,anothervariationofVeblen'ssocial-classrelationtoconspicuousconsumption.ThatAmericanswithanetworthofmorethanamilliondollarsusuallyavoidconspicuousconsumption,andtendtopractisefrugality,suchaspayingcashforausedcarratherusingcredit,inordertoavoidmaterialdepreciationandpayinginterestuponacarloan.[12] Consumerismtheory[edit] Sincethe19thcentury,conspicuousconsumptionexplainsthepsychologybehindtheeconomicsofaconsumersociety,andtheincreaseinthetypesofgoodsandservicesthatpeopleconsidernecessarytoandfortheirlivesinadevelopedeconomy.SupportinginterpretationsandexplanationsofcontemporaryconspicuousconsumptionarepresentedinConsumerCulture(1996)byCeliaLury,[13]ConsumerCultureandModernity(1997)byDonSlater,[14]SymbolicExchangeandDeath(1998)byJeanBaudrillard,[15]andSpent:Sex,Evolution,andtheSecretsofConsumerism(2009)byGeoffreyMiller.[16] Moreover,D.Hebdige,inHidingintheLight(1994),proposesthatconspicuousconsumptionisaformofdisplayingapersonalidentity,[14][17][18]andaconsequentfunctionofadvertising,asproposedinAds,Fads,andConsumerCulture(2000),byA.A.Berger.[19]EachvariantinterpretationandcomplementaryexplanationisderivedfromVeblen'soriginalsociologicpropositioninTheTheoryoftheLeisureClass:thatconspicuousconsumptionisapsychologicalendinitself,fromwhichthepractitioner(man,woman,family)derivedthehonourofsuperiorsocialstatus. Materialismandgender[edit] InAnExaminationofMaterialism,ConspicuousConsumptionandGenderDifferences(2013),theresearchersBrendaSegalandJeffreyS.Podoshenreportedgreatdifferencesintheconsumerismpractisedbymenandwomen.Thedataaboutmaterialismandimpulsepurchasesof1,180Americansindicatethatmenhavegreaterscoresformaterialismandconspicuousconsumption;andthatwomentendedtobuygoodsandservicesonimpulse;andbothsexeswereequallyloyaltoagivenbrandofgoodsandservices.[20] Distinctionsoftype[edit] Thetermconspicuousconsumptiondenotestheactofbuyingsomething,especiallysomethingexpensive,thatisnotnecessarytoone'slife,inanoticeableway.[21]ScholarAndrewTrigg(2001)definedconspicuousconsumptionasbehaviourbywhichonecandisplaygreatwealth,bymeansofidleness—expendingmuchtimeinthepracticeofleisureactivities,andspendingmuchmoneytoconsumeluxurygoodsandservices.[22] Conspicuouscompassion,thepracticeofpubliclydonatinglargesumsofmoneytocharitytoenhancethesocialprestigeofthedonor,issometimesdescribedasatypeofconspicuousconsumption.[4]Thisbehaviourhaslongbeenrecognisedandsometimesattacked—forexample,theNewTestamentstoryLessonofthewidow'smitecriticiseswealthypeoplewhomakelargedonationsostentatiously,whilepraisingpoorerpeoplewhomakesmallbutcomparativelymoredifficultdonationsinprivate.[23] Possiblemotivationsforconspicuousconsumptioninclude: Demonstration/bandwagoneffect—InthebookIncome,SavingandtheTheoryofConsumerBehavior(1949),JamesDuesenberryproposedthataperson'sconspicuousconsumptionpsychologicallydependsnotonlyupontheactuallevelofspending,butalsouponthedegreeofhisorherspending,ascomparedwiththespendingofotherpeople.Thustheconspicuousconsumerismotivatedbytheimportance,tohimortoher,oftheopinionofthesocialandeconomicreferencegroupsforwhomareperformedthepatternsofconspicuousconsumption.[9][10] 'Aggressiveostentation—Ina2006CBSNews.comarticle,DickMeyersaidthatconspicuousconsumptionisaformofangertowardssociety,an"aggressiveostentation"thatisanantisocialbehaviour,whicharosefromthesocialalienationsufferedbymen,women,andfamilieswhofeeltheyhavebecomeanonymousinandtotheirsocieties.Thisfeelingofalienationisaggravatedbythedecayofthecommunitarianethicessentialtoapersonfeelinghimorherselfpartofthewholesociety.[24] Shelterandtransport—IntheUnitedStates,thetrendtowardsbuildinghousesthatwerelargerthanneededbyanuclearfamilybeganinthe1950s.Decadeslater,intheyear2000,thatpracticeofconspicuousconsumptionresultedinpeoplebuyinghousesthatweredoubletheaveragesizeneededtocomfortablyhouseanuclearfamily.[25]Negativeconsequencesofeitherbuyingorbuildinganoversizedhousemightinclude: thelossoforreductioninthefamily'sdomesticrecreationalspace—thebackyardandthefrontyard; thespendingofold-ageretirementfundstopayforatoo-bighouse; over-longcommutingtime,fromhousetojob,andviceversa,becausetherequiredplotoflandwasunavailablenearacity. Oversizedhousesfacilitatedotherformsofconspicuousconsumption,suchasanoversizedgarageforthefamily'soversizedmotorvehiclesorbuyingmoreclothingtofilllargerclothesclosets.Conspicuousconsumptionbecomesaself-generatingcycleofspendingmoneyforthesakeofsocialprestige.Analogoustotheconsumertrendforoversizedhousesisthetrendtowardsbuyingoversizedlighttrucks,specificallytheoff-roadsportutilityvehicletype(cf.stationwagon/estatecar),asaformofpsychologicallycomfortingconspicuousconsumption,becausesuchlargevehiclesusuallyareboughtbycity-dwellers,anurbannuclearfamily.[25] Prestige–Ina1999article,JacquelineEastman,RonaldGoldsmith,andLeisaReineckeFlynnsaidthatstatusconsumptionisbaseduponconspicuousconsumption;however,theliteratureofcontemporarymarketingdoesnotestablishdefinitivemeaningsforthetermsstatusconsumptionandconspicuousconsumption.[26][27]Moreover,A.O'CassandH.Frost(2002)claimthatsociologistsoftenincorrectlyusedthetwotermsasinterchangeableandequivalentterms.Inalaterstudy,O'CassandFrostdeterminedthat,associologicalconstructs,thetermsstatusconsumptionandconspicuousconsumptiondenotedifferentsociologicalbehaviours.[28]Abouttheambiguitiesofdenotationandconnotationofthetermconspicuousconsumption,R.Mason(1984)reportedthattheclassical,generaltheoriesofconsumerdecision-processesdonotreadilyaccommodatetheconstructof"conspicuousconsumption,"becausethenatureofsaidsocio-economicbehavioursvariesaccordingtothesocialclassandtheeconomicgroupstudied.[29] Motivations—PauravShukla(2010)saysthat,whilstmarketingandsalesresearchersrecognisetheimportanceofthebuyer'ssocialandpsychologicalenvironment,thedefinitionofthetermstatus-directedconsumptionremainsambiguous,becausethedevelopmentofacomprehensivegeneraltheoryrequiresthatsocialscientistsaccepttwofundamentalassumptions,whichusuallydonotconcord.First,thoughthe"rational"(economic)andthe"irrational"(psychologic)elementsofconsumerdecision-makingofteninfluenceaperson'sdecisiontobuyparticulargoodsandservices,marketingandsalesresearchersusuallyconsidertherationalelementdominantinaperson'sdecisiontobuytheparticulargoodsandservices.Second,theconsumerperceivestheutilityoftheproduct(thegoods,theservices)asaprimeconsiderationinevaluatingitsusefulness,i.e.thereasontobuytheproduct.[30]Theseassumptions,requiredforthedevelopmentofageneraltheoryofbrandselectionandbrandpurchase,areproblematic,becausetheresultanttheoriestendeithertomisunderstandortoignorethe"irrational"elementinthebehaviourofthebuyer-as-consumer;andbecauseconspicuousconsumptionisabehaviourpredominantly"psychological"inmotivationandexpression,Therefore,acomprehensive,generaltheoryofconspicuousconsumptionwouldrequireaseparateconstructforthepsychological(irrational)elementsofthesocio-economicphenomenonthatisconspicuousconsumption. Examples[edit] Conspicuousconsumptionisexemplifiedbypurchasinggoodsthatareexclusivelydesignedtoserveassymbolsofwealth,suchasluxury-brandclothing,high-techtools,andvehicles.[5] Luxuryfashion[edit] Materialisticconsumersarelikelytoengageinconspicuousluxuryconsumption.[31]Theglobalyearlyrevenueoftheluxuryfashionindustrywas€1.64trillionin2019.[32]Buyingofconspicuousgoodsislikelytobeinfluencedbythespendinghabitsofothers.Thisviewofluxuryconspicuousconsumptionisbeingincorporatedintosocialmediaplatformswhichisimpactingconsumerbehaviour.[31] Criticism[edit] ThejournalistH.L.Menckenaddressedthesociologicalandpsychologicalparticularsofthesocio-economicbehavioursthatareconspicuousconsumption,byasking:DoIenjoyadecentbathbecauseIknowthatJohnSmithcannotaffordone—orbecauseIdelightinbeingclean?DoIadmireBeethoven'sFifthSymphonybecauseitisincomprehensibletoCongressmenandMethodists—orbecauseIgenuinelylovemusic?DoIpreferterrapinàlaMarylandtofriedliverbecauseplowhandsmustputupwiththeliver—orbecausetheterrapinisintrinsicallyamorecharmingdose?DoIpreferkissingaprettygirltokissingacharwoman,becauseevenajanitormaykissacharwoman—orbecausetheprettygirllooksbetter,smellsbetter,andkissesbetter?[24] Inequalityanddebt[edit] InTheTheoryoftheLeisureClass(1899)Veblensaidthat“amongthemotiveswhichleadmentoaccumulatewealth,theprimacy,bothinscopeandintensity,therefore,continuestobelongtothismotiveofpecuniaryemulationoftherich".[2]Inthestudy“BorrowingtoKeepUp(withtheJoneses):Inequality,Debt,andConspicuousConsumption”(2020),SheheryarBanuriandHaNguyenreportedthreefindings: Consumptiontendstoincreasewhenthebuyingandtheusingofgoodsandservicesisconspicuous:Consumptionsignalsstatustootherpeople. Conspicuousconsumptionincreasesthefrequencyofborrowingmoney:Poorpeopletakeoutloansinordertocompeteatconsumption. Economicinequalityisworsenedwithaccesstocredit:Poorpeopleborrowmoneyinordertosignalstatus,whichbecomesaviciouscircle.[33] ThefindingsthatBanuriandNguyenreportedindicatethatthecyclicaleffectofborrowingmoneyforconspicuousconsumptionleadstoandperpetuateseconomicinequality.Thatpoorpeopleimitate,trytomatch,andemulatetheconsumptionpatternsofrichpeopleinordertoincreasetheirsocialstatus,andperhapsriseinsociety.Thatsuchsocio-economicbehaviours,facilitatedbyeasyaccesstocredit,generatemacroeconomicvolatilityandsupportVeblen'sconceptofpecuniaryemulationusedtofinanceaperson'ssocialstanding.[33] Otherresearchsupportstheseandsimilarresults.Forexampleincomeinequalityhasbeenfoundtobeassociatedwithreducedsavingsrates,[34][35][36].Onehypothesizedmechanismforthisrelationshipis'expenditurecascades'[37]wherebyconsumptionnormsaresetbytherelativelywealthy,whothenhavemoreincomeandconsumptionrelativetoothersasinequalityrises.Thisemulationoftheconsumptionnormsofrelativelywealthypeersissupportedbyalargeliterature.[38][39][40][41][42][43][44][45] Onecomplicationfoundinthemacroliteratureisthatthelinkbetweeninequalityandsavingsmaydependoncontext,inparticularonthedegreeoffinancialisation.Whenthedegreeoffinancialisationishigh,inequalitytendstoreducethenationalsavingsrateastheemulationeffectismorepowerfulwhenfinanceisreadilyavailable,buttheoppositeeffectmayoccurwhenfinancialisationislowastheemulationeffectisweak,andtherichtendtosaveatahigherratethanthepoor.[46]TheeffectofinequalityonsavingsisalsofoundtobepositiveinAsia,wherefinancializationislower.[47][48]Therelationshipisalsofoundtodependoneconomicpolicyandinstitutions.Forexampleinequalityappearstolowersavingsin'liberalmarketeconomies'buttoratherreduceaggregatedemandin'coordinatedmarketeconomies'.[49] Inthecasewhereinequalitylowerssavings,andincreasesleverageandatendencytorunlargecurrentaccountimbalancesviatheexpenditurecascademechanism,thishasbeenassociatedwithmorefrequentand/orsevereeconomiccrisis.[50][51][52][53][54][55][56][57] Solutions[edit] Inthecaseofconspicuousconsumption,taxesuponluxurygoodsdiminishsocietalexpendituresonhigh-statusgoods,byrenderingthemmoreexpensivethannon-positionalgoods.Inthissense,luxurytaxescanbeseenasamarketfailurecorrectingPigoviantax—withanapparentnegativedeadweightloss,thesetaxesareamoreefficientmechanismforincreasingrevenuethan'distorting'labourorcapitaltaxes.[58]Aluxurytaxappliedtogoodsandservicesforconspicuousconsumptionisatypeofprogressivesalestaxthatatleastpartiallycorrectsthenegativeexternalityassociatedwiththeconspicuousconsumptionofpositionalgoods.[59]InUtilityfromAccumulation(2009),LouisKaplowsaidthatassetsexerciseanobjectivesocial-utilityfunction,i.e.therichmanandtherichwomanhoardmaterialassets,becausethehoard,itself,functionsasstatusgoodsthatestablishhisandhersocio-economicpositionwithinsociety.[60]Whenutilityisderiveddirectlyfromaccumulationofassets,thislowersthedeadweightlossassociatedwithinheritancetaxesandraisestheoptimalrateofinheritancetaxation.[61] Inthe19thcentury,thephilosopherJohnStuartMillrecommendedtaxingthepracticeofconspicuousconsumption. Inplaceofluxurytaxes,economistRobertH.Frankproposedtheapplicationofaprogressiveconsumptiontax;ina1998NewYorkTimesarticle,JohnTierneysaidthatasaremedyforthesocialandpsychologicalmalaisethatisconspicuousconsumption,thepersonalincometaxshouldbereplacedwithaprogressivetaxupontheyearlysumofdiscretionaryincomespentontheconspicuousconsumptionofgoodsandservices.[62]Anotheroptionistheredistributionofwealth,eitherbymeansofanincomespolicy–forexampletheconsciouseffortstopromotewagecompressionundervariantsofsocialcorporatismsuchastheRehn–Meidnermodeland/orbysomemixofprogressivetaxationandtransferpolicies,andprovisionofpublicgoods.Whenindividualsareconcernedwiththeirrelativeincomeorconsumptionincomparisontotheirpeers,theoptimaldegreeofpublicgoodprovisionandofprogressionofthetaxsystemisraised.[63][64][65]Becausetheactivityofconspicuousconsumption,itself,isaformofsuperiorgood,diminishingtheincomeinequalityoftheincomedistributionbywayofanegalitarianpolicyreducestheconspicuousconsumptionofpositionalgoodsandservices.InWealthandWelfare(1912),theeconomistA.C.Pigousaidthattheredistributionofwealthmightleadtogreatgainsinsocialwelfare: Nowthepartplayedbycomparative,asdistinguishedfromabsolute,incomeislikelytobesmallforincomesthatonlysufficetoprovidethenecessariesandprimarycomfortsoflife,buttobelargewithlargeincomes.Inotherwords,alargerproportionofthesatisfactionyieldedbytheincomesofrichpeoplecomesfromtheirrelative,ratherthanfromtheirabsolute,amount.Thispartofitwillnotbedestroyediftheincomesofallrichpeoplearediminishedtogether.Thelossofeconomicwelfaresufferedbytherichwhencommandoverresourcesistransferredfromthemtothepoorwill,therefore,besubstantiallysmallerrelativelytothegainofeconomicwelfaretothepoorthanaconsiderationofthelawofdiminishingutilitytakenbyitselfsuggests.[66] Theeconomiccaseforthetaxationofpositional,luxurygoodshasalonghistory;inthemid-19thcentury,inPrinciplesofPoliticalEconomywithsomeoftheirApplicationstoSocialPhilosophy(1848),JohnStuartMillsaid: Idisclaimallasceticism,andbynomeanswishtoseediscouraged,eitherbylaworopinion,anyindulgencewhichissoughtfromagenuineinclinationfor,anyenjoymentof,thethingitself;butagreatportionoftheexpensesofthehigherandmiddleclassesinmostcountries ...isnotincurredforthesakeofthepleasureaffordedbythethingsonwhichthemoneyisspent,butfromregardtoopinion,andanideathatcertainexpensesareexpectedfromthem,asanappendageofstation;andIcannotbutthinkthatexpenditureofthissortisamostdesirablesubjectoftaxation.Iftaxationdiscouragesit,somegoodisdone,andifnot,noharm;forinsofarastaxesareleviedonthingswhicharedesiredandpossessedfrommotivesofthisdescription,nobodyistheworseforthem.Whenathingisboughtnotforitsusebutforitscostliness,cheapnessisnorecommendation.[67] Inthecasewhereconspicuousconsumptionmediatesalinkbetweeninequalityandunsustainableborrowing,onesuggestedpolicyresponseistighterfinancialregulation.[68][69] "Conspicuousnonconsumption"isaphraseusedtodescribeaconsciouschoicetooptoutofconsumptionwiththeintentionofsendingdeliberatesocialsignals.[70][71] Seealso[edit] Affluenza Anti-consumerism Bling Classconsciousness Commodityfetishism Conspicuousconservation Conspicuousleisure Elitism Frugality GiffenGood Handicapprinciple Haulvideo Hoarding KeepingupwiththeJoneses Materialism Mottainai Post-purchaserationalization Potlatch Prestigepricing Signvalue Signallingtheory Simpleliving Statussymbol Structuralfunctionalism Sumptuarylaw Sumptuarytaxes Veblengood References[edit] ^Phillips,RonnieJ.2014April22."Conspicuousconsumption."EncyclopediaBritannica. ^abVeblen,Thorstein(1899).TheTheoryoftheLeisureClass.ProjectGutenberg. ^TheNewFontanaDictionaryofModernThought,ThirdEdition,AlanBullock,StephenTrombley,Eds.,1993,p.162. ^abWest,Patrick(2004).ConspicuousCompassion:WhySometimesItReallyIsCruelToBeKind.London:Civitas,InstitutefortheStudyofCivilSociety.ISBN 978-1-903386-34-7. ^abKenton,Will."ConspicuousConsumption".Investopedia.Retrieved2021-05-10. ^Veblen,Thorstein.(1899)TheTheoryoftheLeisureClass|TheoryoftheLeisureClass:AnEconomicStudyintheEvolutionofInstitutions.NewYork:Macmillan.(ISBN 0-486-28062-4,1994Doverpbked.;ISBN 0-14-018795-2,1994PenguinClassicsed.). ^Veblen,Thorstein(1912),TheTheoryoftheLeisureClass.NewYork:MacmillanCompany.p.4. ^ab"ConspicuousConsumption–TheTerm,TheBook,Examples".Retrieved2021-05-10. ^abDuesenberry,JamesS.(1949),Income,SavingandtheTheoryofConsumerBehavior.Cambridge,MA:HarvardUniversityPress. ^abShukla,Paurav(2008)."Conspicuousconsumptionamongmiddleageconsumers:Psychologicalandbrandantecedents".JournalofProduct&BrandManagement.17:25–36.doi:10.1108/10610420810856495. ^Postrel,Virginia.2008July/August."InconspicuousConsumption[permanentdeadlink]."TheAtlantic."Conspicuousconsumption,thisresearchsuggests,isnotanunambiguoussignalofpersonalaffluence.It'sasignofbelongingtoarelativelypoorgroup." ^Stanley,ThomasJ.;Danko,WilliamD.(1998).TheMillionaireNextDoor.SimonandSchuster.ISBN 9780671015206. ^Lury,Celia(1996).ConsumerCulture.PolityPress.ISBN 9780745614410. ^abSlater,Don.(1997)ConsumerCultureandModernity.London:Polity. ^Baudrillard,J.(1998b)SymbolicExchangeandDeath.London:Sage. ^MillerG,Spent:sex,evolutionandthesecretsofconsumerism,RandomHouse,London,2009(ISBN 9780670020621) ^Hebdige,D.(1994)HidingintheLight.London:Routledge. ^Wilson,E.(ed.)ChicThrills.AFashionReader.London:HarperCollins ^Berger,A.A.(2000)Ads,Fads,andConsumerCulture.Lanham:RowmanandLittlefield. ^Segal,Brenda;Podoshen,JeffreyS.(March2013)."AnExaminationofMaterialism,ConspicuousConsumptionandGenderDifferences".InternationalJournalofConsumerStudies.37(2):189–198.doi:10.1111/j.1470-6431.2012.01099.x. ^LongmanAmericanDictionary,2000,p.296. ^Trigg,A.(2001)."Veblen,Bourdieu,andconspicuousconsumption".JournalofEconomicIssues.35(1):99–115.doi:10.1080/00213624.2001.11506342.JSTOR 4227638.S2CID 55731706. ^ 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Furtherreading[edit] LookupconspicuousconsumptioninWiktionary,thefreedictionary. ThorsteinVeblen(1899).TheoryoftheLeisureClassatProjectGutenberg ThorsteinVeblen:ConspicuousConsumption,1902atFordhamUniversity's"ModernHistorySourcebook" TheGoodLife:AnInternationalPerspective,ashortarticlebyAmitaiEtzioni vteInstitutionaleconomicsInstitutionaleconomists WernerAbelshauser ClarenceEdwinAyres JoeS.Bain ShimshonBichler RobertA.Brady DanielBromley Ha-JoonChang JohnMauriceClark JohnR.Commons RichardT.Ely RobertH.Frank JohnKennethGalbraith WaltonHaleHamilton OrrisC.Herfindahl AlbertO.Hirschman GeoffreyHodgson JánosKornai SimonKuznets HunterLewis JesseW.Markham WesleyClairMitchell GunnarMyrdal JonathanNitzan WarrenSamuels FrançoisSimiand HerbertA.Simon FrankStilwell GeorgeW.StockingSr. LarsPålssonSyll ThorsteinVeblen EdwardLawrenceWheelwright ErichZimmermann Newinstitutionaleconomists DaronAcemoglu ArmenAlchian MasahikoAoki StevenN.S.Cheung RonaldCoase HaroldDemsetz AvnerGreif ClaudeMénard DouglassNorth MancurOlson ElinorOstrom OliverE.Williamson Behavioraleconomists GeorgeAinslie DanAriely NavaAshraf OferAzar DouglasBernheim SamuelBowles SarahBrosnan ColinCamerer DavidCesarini Kay-YutChen RachelCroson WernerDeBondt PaulDolan StephenDuneier CatherineC.Eckel ArminFalk UrsFischbacher HerbertGintis UriGneezy DavidHalpern CharlesA.Holt DavidRyanJust DanielKahneman ArielKalil GeorgeKatona JeffreyR.Kling GeorgeLoewenstein GrahamLoomes BrigitteC.Madrian GaryMcClelland MatteoMotterlini SendhilMullainathan MichaelNorton MatthewRabin HowardRachlin KlausM.Schmidt EldarShafir HershShefrin RobertJ.Shiller UweSunde RichardThaler AmosTversky RobertW.Vishny GeorgWeizsäcker Economicsociologists JensBeckert FredL.Block JamesS.Coleman PaulDiMaggio PaulaEngland MarkGranovetter DonaldAngusMacKenzie JoelM.Podolny LynetteSpillman RichardSwedberg LaurentThévenot CarloTrigilia HarrisonWhite VivianaZelizer Keyconceptsandideas Acceleratoreffect Administeredprices Barrierstoentry Boundedrationality Conspicuousconsumption Conspicuousleisure Conventionalwisdom Countervailingpower Effectivecompetition Herfindahlindex Hidinghandprinciple Hirschmancycle Instrumentalism Kuznetscycles Marketconcentration Marketpower Marketstructure Penaltyoftakingthelead Satisficing Shortageeconomy Structure–conduct–performanceparadigm Technostructure Theoryoftwo-levelplanning Veblengoods Vebleniandichotomy Relatedfields Culturaleconomics Developmenteconomics Englishhistoricalschoolofeconomics Evolutionaryeconomics Evolutionarypsychology Frenchhistoricalschool Historicalschoolofeconomics Legalrealism Microeconomics Post-Keynesianeconomics vteExtremewealthConcepts Capitalaccumulation Overaccumulation Economicinequality Elite Oligarchy Overclass Plutocracy Plutonomy Upperclass Nouveauriche(newmoney) Vieuxriche(oldmoney) Veblengoods Conspicuousconsumption Conspicuousleisure People Billionaire Captainofindustry High-net-worthindividual UHNWI Magnate Business Millionaire Oligarch Business Russian Ukrainian Robberbaron Wealth Concentration Distribution Dynastic Effect 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