Why showing status may be important to some people
Conspicuous consumption and status is important for people like famous personalities and social worker to get elevated social standing, high recognition and superiority for the possessors and positive self-image.
Why showing status may be important to some people
Everyone expects status even though they are aware of it or not. Status is treated as a universally vital one because it influences on how people behave or think. Conspicuous consumption is a method of displaying off one's position in the society or network. It is important for some people like politicians, famous personalities like film actors. Conspicuous consumption and status make them as acceptable because it shows one's financial status and also social status. Status represents the degree of prestige or honor attached to one's position in a society.
Conspicuous consumption is the way of showing one's financial capability for gaining reputation and status in a society. It gives the feeling of superiority to the possessors. Conspicuous consumption also gives a positive self -image for the people. The main reason for some people to be conspicuous as well as showing their status is important because to be recognized in the society as well as achieving higher prestige and honor.
The Ukrainian Counterparts laughed because Poland's Foreign Minister worn a watch with a cost of $ 165. Ukrainian politicians wear high cost watch or spend for conspicuous product to show their status in the society even though most of the people in the society live in poverty. Veblen stated that, conspicuous consumption is a way of representing one's wealth. Having such conspicuous product gives elevated social standing for politicians. Conspicuous consumption alone always gives social status for the people. In china, due to avoiding corruptions they banned expensive gifts like expensive watches. People wear such watch costs is more than the average salary of country's people.
From the reading of the article and the self-experiences, it is concluded that, Conspicuous consumption and status is important for people like famous personalities and social worker to get elevated social standing, high recognition and superiority for the possessors and positive self-image.