Pecuniary Emulation And Conspicuous Consumption
Pecuniary emulation and conspicuous consumption go hand in hand. The lower and middle class feel that possession of items and wealth will make them feel better about themselves and by emulating the upper class they will become the upper class. Pecuniary emulation causes conspicuous consumption from the upper-class consumers. These consumers develop taste in items and style as they buy more and more causing the market to always grow and making it harder for the lower classes to emulate these tendencies of the conspicuous consumers. The people are not rational consumers, we are simply in the pursuit of social status and prestige.
I have seen conspicuous consumption play out in many ways growing up. I grew up in a middle-class
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