Thorsten Veblen Case Study

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Thorsten Veblen Thorsten Veblen is an American economist and sociologist. His theory focuses on the relationship and conflict between business and industry. In addition, Thorsten Veblen also addresses how different social class affects their consumption behavior in this chapter.
Business and Industry In Thorsten Veblen’s theory, business is built by a group of people which include the capitalist, shop owner, employer and business manager. These people focus on how to make the market work and how to create a bigger profit for the entire business. Therefore, the businessman did not want to produce a lot of products because of the higher amount of goods, the less value for each output. They want a variety of goods but in small capacity …show more content…

Conspicuous consumption is that people spend higher price to buy goods such as luxuries bags. They spend more money to buy one thing is because they want to show off their wealthy and display their social class is higher than the general people. On the other hand, the conspicuous leisure is producing products in an inefficient way to demonstrate the higher social class. However, in contemporary society, people prefer to use conspicuous consumption than the conspicuous leisure to illustrate how rich they are because it is more overt, tangible and easy to show in …show more content…

Impulse address the simple reaction of basic stimulus. For example, if a person feels thirsty (stimulus), he will find the water to drink (reaction). Additional, perception has displayed the reaction of the sensation. In the stage of perception, people will think before they do it. they will also decide what kind of stimuli is crucial and meaningful. For instance, a thirsty person will use his hearing to find out where the water is. Moreover, when he is looking for the water, he will only focus on the sound of water instead of the wind or somebody’s singing. Third, George Herbert Mead demonstrates that people will have the certain judgment of the reaction. For illustration, a thirsty person will found the water somewhere, they will still double check the water is safe to drink before they drink it. At the end, the consummation displays that human beings will act to fulfill their demands. For example, a thirsty person wants to drink water and he wants to drink it whenever he wants, he will make a water container to satisfy his

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