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

Conspicuous consumption is over. It’s all about intangibles now | Aeon Ideashttps://aeon.co/ideas/conspicuous-consumption-is-over-its-all-about-intangibles-now?utm_source=pocket&utm_medium=email&utm_campaign=pockethitsIn 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.