Final answer:
The correct answer is a. Condemnation of conspicuous consumption, which describes Thorstein Veblen's argument in The Theory of the Leisure Class where he criticizes the affluent's displays of wealth at the expense of the working class and overall societal welfare.
Step-by-step explanation:
Thorstein Veblen's seminal work, The Theory of the Leisure Class, published in 1899, provides a critical analysis of the economic behaviors of affluent classes in late 19th-century America. Veblen introduces the concept of conspicuous consumption, which he defines as the spending of money on and the acquisition of luxury goods and services to publicly display economic power. His critique was not just about the ostentatious display of wealth, but about the broader socio-economic system that allows the leisure class to flourish at the expense of productive work and societal welfare.
The correct answer to the question based on Veblen's argument is a. Condemnation of conspicuous consumption. Veblen saw the behavior of the leisure class as wasteful and a form of exploitation of the working class, who produced the goods that were consumed in such a manner. The practices of conspicuous consumption, according to him, exacerbated social divisions and led to economic inefficiencies that were detrimental to society as a whole.
This analysis stood in stark contrast to any form of endorsement of materialism or support for social hierarchy. Instead, Veblen called for a reform of the economic system that would mitigate these disparities and inefficiencies.