Conspicuous or Inconspicuous Consumption?
by bmckernan Over one hundred years ago, noted sociologist Thorstein Veblen introduced the concept of “conspicuous consumption” to describe the lifestyle of members of the upper class who purchase goods and services not out of necessity but instead as indicators of their wealth and status. According to a recent Newsweek article, the era of conspicuous consumption may be placed on momentary hiatus as millions of Americans struggle to make ends meet. While the article should not be treated as a...
