Thorsten Veblen documents how

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Thorsten Veblen focuses on the idea that people can become preoccupied with their relative success in comparison to others in their social class, and that this can become an established end in and of itself. This concept is known as "pecuniary emulation" and is a key concept in Veblen's work on conspicuous consumption and the role of status in society. Veblen also argues that self-esteem is often tied to one's high status, and that conspicuous leisure is also an important marker of one's social standing, as those who do not have to work are often viewed as more prestigious. However, Veblen does not argue that conspicuous consumption is an accurate measure of an individual's total wealth.

Thorsten Veblen Documents How