Question

What do you think about "conspicuous consumption"? Do you agree or disagree with the notion? Why?

Answer 1

Conspicuous consumption is something when people just to portray their status in the society and it is something highly lent in certain areas of the world which is one main reason why brands like Louis Vuitton got a fame that huge. It is something that has a lot to do with the behaviour of the people rather than the actual value of the product and in one way it enables the people to spend more on those goods as a result of which we get to pay more taxes because luxury goods usually carry have payment of taxes so that the government will have adequate funds in order to carry out measures that get for economic equality on the whole and that is the reason why you have to understand that, in one way it is actually good for the economy and if you look at in this way, the notion of conspicuous consumption can be agreed upon all in all.