-- ChristinaYoun - 29 Mar 2008

I think the topic of engagement rings is particularly interesting when discussing Veblen because engagement rings are not like other commodities of conspicuous consumption. An example that comes to mind is of two groups of women. Both groups of woman are fashion-conscious and follow the latest trends. They emulate the luxury class (celebrities) by conspicuously consuming Gucci, Dior, etc. when they can and purchasing items inspired by "the real thing." But these women differ in their views of The Ring. One group has been taught by their mothers and peers not to accept anything less than 3 carats. The other group couldn't be happier with a 1 carat. Clearly, in a world that celebrates and oogles over the 5+ carats shown off by celebrities, the second group is not doing a good job at emulating the luxury class. Would Veblen say that the "emulation" is satiated in the form of receiving a diamond ring, period, or does this show that Veblen's theory falls short in explaining engagement rings?