Peculiar emulation means strive to reach a position that has been reached by other people in the society in order to be in the same standard of living. This was a concept explained by Veblen to explain the issues that relate to the middle level class people and the rich in the society. In the early stages of history, pecuniary emulation was mostly practiced by the middle earning group who tried to reach the position of the wealthy people. Wealth in the past was in the form of accumulation of assets such as gold and silver. The middle level people therefore ...
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