Spending of money on luxury goods to display economic power. Conspicuous consumerism. Historically, conspicuous consumerism refers to the practice where individuals purchase lavish items to display wealth and social status.
During the period of Immigration and Urbanization from 1880-1915, conspicuous consumerism became important as newly wealthy individuals and families, particularly in urban areas, showcased their economic power through lavish spending. This was a response to the social hierarchies and class distinctions emerging in rapidly growing cities, where people wanted to distinguish themselves from immigrants and the working class. The practice highlighted the disparities between the rich and poor, as well as the desire for social status through material possessions. Today, conspicuous consumerism still matters as people often purchase luxury items or engage in social media boasting to gain status or approval from others. For example, someone might buy the latest smartphone not for its features, but to be seen as trendy or successful among peers, illustrating how the concept influences personal choices and social dynamics.
