RationalWiki's 2020 Fundraiser

There is no RationalWiki without you. We are a small non-profit with no staff – we are hundreds of volunteers who document pseudoscience and crankery around the world every day. We will never allow ads because we must remain independent. We cannot rely on big donors with corresponding big agendas. We are not the largest website around, but we believe we play an important role in defending truth and objectivity.

If everyone who saw this today donated $5, we would meet our goal for 2021.

Fighting pseudoscience isn't free.
We are 100% user-supported! Help and donate $5, $20 or whatever you can today with PayPal Logo.png!

Donations so far: $2120Goal: $3500

Conspicuous consumption

From RationalWiki
Jump to: navigation, search
The dismal science
Economics
Icon economics.svg
Economic Systems

  $  Market Economy
  €  Mixed Economy
  ☭ Socialist Economy

Major Concepts
People

Conspicuous consumption is a phrase popularized by the American sociologist and economist Thorstein Veblen.Wikipedia It refers generally to the public display of economic purchasing power to acquire and consume luxury goods, as a means to display the consumer's membership in a superior social class. Other forms of conspicuous consumption include invidious consumption, meant to provoke the envy of other people; and conspicuous compassion, the ostentatious display of charitable donations, often in exchange for public monuments and buildings bearing the donor's name, in an attempt to enhance the prestige of the owner. The theory of conspicuous consumption was developed by Veblen in his well known book, The Theory of the Leisure Class (1899).[1]

References[edit]