Question

What alliterative two-word concept was introduced by Thorstein Veblen in his 1899 work ‘Theory of the Leisure Class’ and is defined as the acquisition of luxury items and services in order to display economic strength and influence?

Answer 1

ThorsteinnVeblen is known for the idea of "conspicuous consumption". People engage in conspicuous consumption, along with "conspicuous leisure", to demonstrate wealth or to mark social status. Veblen explains the concept in his best-known book, The Theory of the Leisure Class (1899).