A Veblen good is something people value because it’s expensive. The high price itself signals status, exclusivity, or prestige, so demand can actually increase as the price rises—the opposite of normal goods.
Classic examples of Veblen goods include:
- Luxury watches
- Designer handbags
- High-end sports cars
- Ultra-exclusive memberships
I don’t like Veblen goods. They’re mostly gross.
Even worse, they are a desperate, pleading, pathetic attempt for esteem, respect, and attention.
Income-based pleas for the perception of self-worth.
A Veblen good screams, “Look at me! Look at me! I may feel less-than or even worthless inside, but look at what I strapped to my body today! Look at the thing I’m driving! Look at my fancy-pants club! And don’t just look at the thing. Make sure you notice the label or seal or typography and know that I’m worthy! Right?”
No. You’re not.
You’re cloying, grasping, thirsty, and tragic. Pathetic and stupid.
This is exactly what I think every time I see someone prominently displaying their Veblen good solely because it’s a Veblen good.
But maybe that’s just me.
