Pecuniary Emulation fosters Conspicuous Consumption from "summary" of Theory of the Leisure Class by Thorstein Veblen
Pecuniary emulation is a key driver of conspicuous consumption within society. This concept revolves around individuals seeking to emulate or surpass the financial status and material possessions of others in their social circle. It is a competitive pursuit rooted in the desire for social status and prestige. Individuals engage in conspicuous consumption as a means of displaying their wealth and social standing to others. This display often involves the lavish expenditure of money on goods and services that serve little practical purpose beyond signaling one's financial capability. The pursuit of pecuniary emulation leads individuals to engage in a cycle of competitive spending, where the desire to outdo one another in terms of material possessions drives consumption patterns. This phenomenon is particularly prevalent among the leis...
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