Conspicuous Consumption Flashcards
(23 cards)
Who wrote ‘The Theory of the Leisure Class’?
Thorsten Veblen
What are the two voices of Veblen in his critique of society?
Narrator and Satirist.
What is conspicuous leisure?
Wasting time in a blatant manner to catch the notice of others.
What is conspicuous consumption?
The purchase of useless products in mass quantities.
Define pecuniary emulation.
The tendency to compare oneself to those who are more successful or wealthy
What societal issues does Veblen raise regarding conspicuous consumption?
He critiques its role in capitalism versus communism and questions whether greed and wealth are beneficial or detrimental to society.
What modern example illustrates Veblen’s concept of ‘keeping up with the Joneses’?
Keeping up with the Kardashians.
Who are the highest paid influencers mentioned in the notes?
Cristiano Ronaldo ($3.2M per post)
What does Veblen argue about the leisure class and its influence on society?
He is critical of the leisure class and suggests that the masses adore them
How do institutions shape society according to Veblen?
Institutions embody instincts and shape the habits of thoughts within human communities.
What are some examples of institutions that reflect the leisure class?
Sports
What is the significance of ‘fair play’ in the context of the leisure class in sports?
It is often disregarded; the focus is on winning and the spoils that come with it.
How does religion reflect conspicuous consumption?
Through devout observance
What role does higher education play in the pecuniary culture?
It reflects the desire to attend elite and expensive schools
What criticism does Veblen face regarding his views on work and consumption?
He mistakenly assumed that man would work past subsistence and did not foresee consumption leading to prosperity.
What does Veblen suggest about the instinct of workmanship?
He argues that there is no evidence that it exists.
What are some strategies to avoid conspicuous consumption at the individual level?
Acknowledge its existence
What macro-level approach does Veblen suggest to reduce conspicuous consumption?
Reduce waste by consuming long-lasting and practical products.
What is the bottom line Veblen suggests regarding purchases?
Focus on value
What is the difference between luxuries and necessities according to Veblen’s critique?
Luxuries are non-essential items
What does Veblen imply about impulsive purchases?
They should be avoided in favor of supporting ethical businesses and making thoughtful decisions.
What does Veblen believe comes after work in an ideal society?
He did not clearly define this
How does Veblen view the relationship between conspicuous consumption and societal pressure?
He suggests that societal pressure leads individuals to engage in conspicuous consumption to emulate the wealthy.
