Problem
Extravagant life style
Other Names:
Extravagant use of wealthDecadent standard of living
Conspicuous consumption
Nature:
The extravagant use of expensive goods or services in order to demonstrate status and wealth leads to a large proportion of a country's economic resources being allocated to the production of luxury goods and consumer durables which need to be periodically replaced.
Incidence:
This term was heavily used by Thorstein Veblen in his Theory of the Leisure Class, published in 1899. According to a 1991 Forbes magazine report, there were 71 billionaires in the USA listed out of the 400 richest people in America, whose net worth reached $288 billion.
Broader Problems:
DecadenceDiscredited moneyed hereditary classInternational imbalance in the quality of life Narrower Problems:
Elitist tourismMulti-car familiesConspicuous consumption by international civil servants Related Problems:
Jaded appetitesDeteriorating quality of life Aggravates:
Grave robberyMeaningless recreationUnbridled greed for moneyShortage of domestic servantsCompetitive acquisition of armsEnergy-consuming leisure activitiesExcessive consumption of goods and servicesUnconstrained exploitation of natural resourcesConstruction of inappropriate tourist resort complexes Strategies:
Living simplyApplying ecological footprint analysisEnsuring decent living standardsBeing conspicuousBeing decadentLiving decadentlySetting standards of livingEnjoying decadence Subject(s):
Amenities → ConsumptionAmenities → Living conditions
Experiential Activity → Experiential activity
Innovative change → Change
Value Redistribution → Value redistribution
Related UN Sustainable Development Goals:
Problem Type:
D: Detailed problems Date of last update
04.10.2020 – 22:48 CEST