Conspicuous-consumption
noun
1.
public enjoyment of possessions that are known to be costly so that one’s ability to pay for such things is flaunted.
noun
1.
spending in a lavish or ostentatious way, esp to impress others with one’s wealth
Buying unnecessary and expensive products and services as a way to show off wealth. The term was coined by U.S. economist Thorstein Veblen in The Theory of the Leisure Class.
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