Veblen's theory of conspicuous consumption from the perspective of P. Bourdieu’s conception

The article presents the main criticism of the theory of conspicuous consumption and considers a way to overcome it according to the theory of Pierre Bour-dieu. The author strives to provide the socio-cultural basis for Veblen’s theory involving such concepts as cultural capital, taste and habitus. The paper proposes a solution of the Veblen theory’s inherent problem of the up-down unidirectionality of the consumption social standards by transition from the focus on the product and service to the focus on the social agent’s ability to identify oneself without concentrating on the consumption objects, whether it is luxury or fast moving consumer goods. Besides, the author considers range of problems associated with the development and functioning of the consumer classes.