Is Conspicuous Consumption of Business Leaders Justified and Morally Defensible
International Journal of Management and Marketing Research, v. 11 (1) p. 27-40
14 Pages Posted: 22 Feb 2019
Date Written: 2018
Over the past couple decades as the accountability of corporate executives has been increasingly scrutinized, the popular business press contains numerous accounts of both corporate and personal spending excesses that have caught the attentions of shareholders, public policy makers, and the public at large. Conspicuous consumptions by corporate managers raises a wide range of issues. This paper attempts to provide some needed balance in understanding managers’ behaviors by drawing some examples from both the historic and more contemporary literature on conspicuous consumption. In this paper, we first demonstrate that conspicuous consumption of corporate leaders can be justified from economic, marketing, and philosophical perspectives. Second, we present a religious perspective in order to provide a contracting view of the morality of conspicuous consumption. Our analysis concludes by offering a perspective rooted in balancing property rights, efficiency, and equity.
Keywords: Conspicuous Consumption, Ethics
JEL Classification: M1, M2, M3, M4
Suggested Citation: Suggested Citation