Скачать или смотреть Thorstein Veblen: The Economist Who Exposed Conspicuous Consumption

Welcome toFinanceUnmasked , where money, history, and power collide.
Much of modern spending has nothing to do with need — and everything to do with being seen.
Over a century ago, economist Thorstein Veblen exposed a truth that still shapes our financial system today: people don’t just buy for utility, they buy for status. In this video, we explore how Veblen dismantled the idea of the “rational consumer” and revealed consumption as a social signal — a performance driven by hierarchy, imitation, and comparison. From the excesses of the Gilded Age to modern luxury branding, debt, and lifestyle inflation, this is the story of how status became an economic engine — and why it quietly erodes financial freedom for millions.
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Key Facts & Insights
• Thorstein Veblen was a founding figure of institutional economics, challenging traditional rational-actor theory.
• He coined the term conspicuous consumption to describe spending designed to signal status, not meet needs.
• Veblen showed how elites set consumption standards that filter downward through society.
• Rising incomes often intensify status pressure rather than reduce it.
• Luxury pricing works because higher prices can increase demand by signaling exclusivity.
• Conspicuous consumption redirects capital toward visibility instead of resilience.
• Modern debt, lifestyle inflation, and financial anxiety reflect the same incentives Veblen identified over 100 years ago.
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Further Reading
• The Theory of the Leisure Class by Thorstein Veblen — the original work that introduced conspicuous consumption and remains disturbingly relevant.
• The Affluent Society by John Kenneth Galbraith — a modern extension of Veblen’s ideas on abundance, waste, and social pressure.
• Status Anxiety by Alain de Botton — a philosophical exploration of why comparison drives modern dissatisfaction.
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