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Psychology

Status Anxiety and Conspicuous Consumption in Digital Economies

Quick fact

Thorstein Veblen coined 'conspicuous consumption' in 1899, but today, a single Instagram photo of a designer handbag can generate more status competition than a whole season of old-fashioned display. Social media has turned status signaling into a 24/7 global contest.

Why this is interesting

Ever wonder why people post photos of expensive coffee or new sneakers on social media? Why do we feel a tiny pang of envy when others show off their lifestyle?

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Status Anxiety and Conspicuous Consumption in Digital Economies

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