Question

3 benefits a labourer benefits from conspicuous consumption? with examples.

Answer 1

Conspicuous consumption is the consumption of expensive goods and services, done in such a way to show the wealth of an individual or their power to the society.

Benefits that a labourer can derive from conspicuous consumption can be the following :

i. Prestige : When an individual buys expensive things, which hold a great show value in society, the individual receives a sense of prestige in the fact that the commodity that he has bought by conspicuous consumption is not available easily in society. The labourer when takes prestige in himself, he feels a higher sense of self awareness and this affects his working capacity positively.

ii. Self Worth : A labourer who does conspicuous consumption will automatically value himself higher and better than his contemporaries in terms of consumption expenditure and quality. The labourer will feel that his worth has increased by the consumption.

iii. Motivation : By conspicuous consumption the labourer gets to consume a commodity which is very expensive. This could give him further motivation to earn more and work harder to keep the conspicuous consumption constant in his life. As a result, the labourer works harder and better.