Extravagant life style

Other Names:
Extravagant use of wealth
Decadent standard of living
Conspicuous consumption

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.


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.

Related UN Sustainable Development Goals:
GOAL 11: Sustainable Cities and CommunitiesGOAL 12: Responsible Consumption and ProductionGOAL 17: Partnerships to achieve the Goal
Problem Type:
D: Detailed problems
Date of last update
04.10.2020 – 22:48 CEST