The Economics of Conspicuous Consumption

Theory and Thought since 1700

Roger Mason, Visiting Professor, University of Salford, UK

A feature of the new consumer societies which has emerged in more recent years has been the growing economic and social importance of conspicuous consumption. Status-directed consumer demand, stimulated and promoted by the supply of products and services marketed as symbols of social identity and style, now represents a significant part of overall economic and commercial activity. Once regarded as a form of consumer behaviour associated only with the rich and privileged, conspicuous consumption is today a worldwide phenomenon, easily observed at all social and economic levels and a major determinant of the nature and direction of consumer demand.

‘Among the merits of Mason’s book is that it offers a well-documented portray of the debate between Marshall and Pigou on the opportunity to explicitly include the analysis of conspicuous consumption into the realm of economics . . . Professor Mason’s book offers an instructive description of the early contributions to the economics of conspicuous consumption and a useful guide to recent bibliographic sources.’
– G. Corneo, Journal of Economics

‘Mason provides an admirable history of conspicuous consumption, tracing its more recent expansion to all socioeconomic levels.’
– R.T. Averitt, Choice

‘The interdependence of individual consumption choices is one of those subterranean themes that run through the history of economics – never quite in the mainstream, but never wholly forgotten. Common observation reminds us that fashion matters, as does the desire to flaunt wealth or to conceal it, but this is an awkward fact that does not fit well into a framework which takes individual preferences as a given starting point. Roger Mason’s history of the idea of conspicuous consumption from 1700 to the present is a valuable addition to our understanding of this important theme.’
——安东尼·布鲁尔,英国布里斯托尔大学