| public enjoyment of possessions that are known to be costly so that one's ability to pay for such things is flaunted. |
| conspicuous consumption n. The acquisition and display of expensive items to attract attention to one's wealth or to suggest that one is wealthy. |
Buying unnecessary and expensive products and services as a way to show off wealth. The term was coined by U.S. economist Thorstein Veblen in The Theory of the Leisure Class.