NONE Essay Example | Topics and Well Written Essays - 500 words - 2

NONE - Essay ExampleThe theory of egregious consumption is evident in the lives of very many nation today. For instance, many renowned celebrities today such as rappers, singers, frauds, sports personalities, deejays, and socialites among others are known to make a lot of funds. These celebrities do not shy from sp destroying their money lavishly in ways that are intended to provoke the envy of other members of the public just as stipulated in Veblens theory of conspicuous consumption. They simply do this as a means of displaying their superior socio-economic status and letting the world know that they are economically powerful. For example, popular celebrity actor Jennifer Aniston passed by a New York lighting store and spent $ 20,000 on lights for her mansion in Los Angeles. While in Paris, socialite Kim Kardashian spent more than $ 100,000 on buy less than seven handbags for herself. Victoria Beckham was also recorded as having spent more than $ 1.5 million on clothes, sungla sses, shoes and bags. Other conspicuous spenders include brad Pitt who spent more than $ 10,000 at once just buying boys clothes.The fact that the above mentioned celebrities go on these outgo sprees conspicuously and end up attracting the attention of members of the public on their spending abilities proves that Veblens theory of conspicuous spending is still relevant today because it is evident in the spending habits of a group of the great unwashed who wish to maintain a certain social status. According to Veblens theory, this social class of super rich people came into sight as an outcome of the accumulation of wealth during the Second Industrial Revolution. That is the same case with the people who conspicuously spend money on luxuriousness items today. They usually accumulate their wealth through various ventures that they engage in. After accumulating their wealth, they apply it as a way of publicly displaying their social and economic power. This is