Conspicuous consumption

This phrase means flamboyant, attention-seeking expenditure on luxurious items. It was coined by Thorstein Veblen (1827-1929) the American economist and sociologist. His most famous and widely read work was The Theory of the Leisure Class, published in 1899 in which he writes, “Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.”