Hardback
The Economics of Conspicuous Consumption
Theory and Thought since 1700
9781858988337 Edward Elgar Publishing
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.
More Information
Critical Acclaim
Contents
More Information
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.
The origins of modern-day conspicuous consumption can be traced to the seventeenth and eighteenth centuries, to a time when the first consumer societies were being established. As these new markets emerged, so economics struggled to come to terms with a form of socially-inspired consumer behaviour with which it felt instinctively uneasy. Roger Mason traces the development of economic theory and thought since 1700 in its attempts to accommodate a new economics of conspicuous consumption.
This enlightening book will be of much interest to scholars, researchers and students of consumer behaviour in economic theory, and will also be welcomed by those in the disciplines of sociology, psychology and business studies.
The origins of modern-day conspicuous consumption can be traced to the seventeenth and eighteenth centuries, to a time when the first consumer societies were being established. As these new markets emerged, so economics struggled to come to terms with a form of socially-inspired consumer behaviour with which it felt instinctively uneasy. Roger Mason traces the development of economic theory and thought since 1700 in its attempts to accommodate a new economics of conspicuous consumption.
This enlightening book will be of much interest to scholars, researchers and students of consumer behaviour in economic theory, and will also be welcomed by those in the disciplines of sociology, psychology and business studies.
Critical Acclaim
‘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.’
– Anthony Brewer, University of Bristol, UK
– 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.’
– Anthony Brewer, University of Bristol, UK
Contents
Contents: Introduction 1. The New Consumer Society 2. John Rae and ‘The Passion of Vanity’ 3. A Confusion of Ideas 4. The Neoclassical View 5. Thorstein Veblen and the Gilded Age 6. The Resistance to Change 7. Demand Reconsidered: External Effects and the Relative Income Hypothesis 8. Consumer Theory and the Economics of Affluence 9. Status, Identity and Style: Towards a NewTheory of Consumption 10. Perspective Index
