Thorstein Veblen wrote his “Conspicuous Consumption” towards the end of the industrial revolution in 1902. The work intended to highlight what Veblen saw as frivolous consumption for the sake of status rather than for a necessity. Veblen witnessed large scale consumerism in its early stages and pinpointed the essential characteristics of a caste system based entirely upon one’s ability to purchase the correct things.
The upper level of Veblen’s caste system was known as the “leisure class,” a class which ostensibly consumed luxuries, and was wealthy enough to indulge in leisurely activities.… Read the rest here