Monday, July 16, 2018

Inconspicuous Consumption and Ostentation-Value

According to Veblen and his followers, Conspicuous Consumption is for the purpose of social status, i. e. superiority. But, so, too, can Inconspicuous Consumption be for that purpose, but not for superiority.  Rather, normality is the aim when one attempts to 'keep up with the Joneses', i. e. to, paradoxically, conspicuously consume inconspicuously.  Thus, a purchase can have Ostentation-Value if it assimilates the buyer with others, and can for this reason be a powerful incentive to meet a Price that exceeds any Use-Value that it may have, as advertisers are well aware.  So, Ostentation-Value is a factor in most Demand.

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