Question

In his 1899 treatise *The Theory of the Leisure Class*, sociologist Thorstein Veblen coined the term "conspicuous consumption" to describe the practice of purchasing expensive items to publicly display wealth and social status. For over a century, this concept served as the cornerstone of sociological analyses of consumer behavior. Veblen argued that the elite signaled their position through overt, material extravagance, a behavior subsequently emulated by the middle and lower classes.

However, in the twenty-first century, the dynamics of class signaling have undergone a profound shift. Sociologist Elizabeth Currid-Halkett suggests that the traditional elite's reliance on conspicuous consumption has been supplanted by "inconspicuous consumption." Today���s "aspirational class" increasingly avoids flashy signifiers of wealth, such as designer handbags or sports cars. Instead, they signal their status through investments in cultural capital—such as organic groceries, high-end journalism subscriptions, and elite university tuition.

This shift is driven by the democratization of consumer goods. As mass production has made luxury-like items accessible to a broader population, material goods have lost their efficacy as exclusive status symbols. Consequently, the modern elite relies on markers that require not just financial means, but also significant time, education, and cultural awareness to acquire. While a designer belt can be bought instantly online, understanding the social capital of a niche documentary or a specific parenting philosophy requires a particular cultural upbringing. Thus, contemporary social stratification is no longer written in gold and diamonds, but in the subtle, intangible choices of daily life.

Based on the passage, match each concept or argument on the left with its correct summarizing function or definition on the right.