The Price of Prestige

160 chapter six

less important. There is no necessary theoretical reason to assume ma-

terial primacy. Despite the terminology, the theory of conspicuous con-

sumption is agnostic when it comes to weighing the relative importance of

material and social motivations. Instead, the general structure of the the-

ory sees acts of consumption as outcomes of the sum of both motivations.

Consequently, the argument can be read as a theory of residuals. Prestige

as a social motivation is used to account for the margins that cannot be

explained by primary utility. However, it is equally possible to look at

material explanations as constituting the unexplained residuals of social

motivations. In fact, in the case of pure Veblen goods, where consump-

tion is mainly driven by prestige considerations, the material clearly plays

a residual role to the social. Distinguishing between core and residual is

therefore a matter of theoretical taste, preference, and convenience and

can vary across different goods, actors, or issue areas.

Such an agnostic approach can seem too permissive at times. Instead

of viewing material and social explanations as competing theoretical frame-

works, it accepts both as inherently complementary. When analyzing the

Brazilian carrier or the Chinese space program, we do not need to choose

between material or social explanations, between domestic or interna-

tional interests. Instead, conspicuous consumption accommodates all these

motivations as necessary integral components of the decision to consume.

Instead of either/or, conspicuous consumption opts for “all of the above.”

In so doing, it evades tough analytical choices in favor of a more centric

approach. While some may criticize such a stance as noncommittal, it is

precisely this agnostic nature that makes conspicuous consumption an at-

tractive meeting place for different theoretical approaches and a potentially

fertile ground for bridge building.

The second issue that I wish to highlight here is the unique conundrum

surrounding prestige- driven strategic behavior. By adopting a rationalist

approach to the study of prestige, conspicuous consumption treats pres-

tige policies as strategic manipulation. However, prestige presents a chal-

lenge to the strategic actor. A behavior that is too visibly aimed at gaining

prestige is often deemed vulgar, and hence not overly prestigious. This

paradox is captured nicely by James Barrie’s famous villain Captain Hook.

In Peter Pan ([ 1911 ] 1987 ), Barrie describes Hook as a deeply anguished

actor. An illegitimate son of a nobleman, Hook is constantly searching for

social recognition and approbation. He is obsessed with prestige and suf-

fers from extreme status anxiety. Hook realizes that in order to gain social

acceptance he needs to maintain “good form.” However, this realization