An example of what the economist and social historian Thorstein Veblen meant by "conspicuous consumption" is:

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Mrs. Bradley Martin's costume ball was a lavish and extravagant display of wealth and luxury, where guests wore elaborate and expensive costumes and jewelry. Veblen defined conspicuous consumption as spending money on goods and services mainly for the purpose of displaying wealth and social status in a public manner. The costume ball is a clear example of this.

An Example of What the Economist and Social Historian Thorstein