According to Thorsten Veblen (1899), __________ characterized the consumer economy in which prestige was based on accumulating and showing off as many possessions as possible.

Question

Quizplus · Accepted Answer

Thorsten Veblen (1899) introduced the concept of "conspicuous consumption" to describe the behavior in a consumer economy where individuals accumulate and display wealth and possessions to gain prestige and show off their social status.

According to Thorsten Veblen (1899), __________ Characterized the Consumer Economy