Conspicuous consumption is over. It’s all about intangibles now

Aeon Magazine
Feb 6, 2018 · 5 min read
Photo: guruXOOX/Getty Images

By Elizabeth Currid-Halkett

In 1899, the economist Thorstein Veblen observed that silver spoons and corsets were markers of elite social position. In Veblen’s now famous treatise The Theory of the Leisure Class, he coined the phrase ‘conspicuous consumption’ to denote the way that material objects were paraded as indicators of social position and status…

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