From conspicuos consumption to ostentation: the impact of social networks on young people´'s income

Abstract

Abstract: Thorstein Veblen observed that, in the society of his time, people highlighted their power and wealth through their conspicuous consumption, especially in public places; ostentation thus made it possible to win the admiration of their peers. Nowadays, this ostentation can be done using social networks, through the exhibition of consumer images by means of photographs, notably selfies. Comparison through social networks is verified with special intensity among its bigger users, young people. It may happen that the need for emulation leads these people to spend beyond their financial means, promoting excessive indebtedness. This article analyzes this relationship between conspicuous consumption, social networks and indebtedness based on the results of a survey carried out using online questionnaires, which suggests the possibility that this phenomenon is actually taking place.