The theory of the leisure class; an economic study of institutions by Veblen Thorstein 1857-1929

Author:Veblen, Thorstein, 1857-1929 [Veblen, Thorstein, 1857-1929]
Language: eng
Format: mobi
Tags: Leisure class
Publisher: New York : The Macmillan Company; [etc., etc.]
Published: 1912-03-03T05:00:00+00:00

consumption as one of the main elements in the standard of decency among all classes is of course not traceable wholly to the example of the wealthy leisure class, but the practice and the insistence on it are no doubt strengthened by the example of the leisure class. The requirements of decency in this matter are very considerable and very imperative; so that even among classes whose pecuniary position is sufficiently strong to admit a consumption of goods considerably in excess of the subsistence minimum, the disposable surplus left over after the more imperative physical needs are satisfied is not infrequently diverted to the purpose of a conspicuous decency, rather than to added physical comfort and fulness of life. Moreover, such surplus energy as is available is also likely to be expended in the acquisition of goods for conspicuous consumption or conspicuous hoarding. The result is that the requirements of pecuniary reputability tend (i) to leave but a scanty subsistence minimum available for other than conspicuous consumption, and (2) to absorb any surplus energy which may be available after the bare physical necessities of life have been provided for. The outcome of the whole is a strengthening of the general conservative attitude of the community. The institution of a leisure class hinders cultural development immediately (i) by the inertia proper to the class itself, (2) through its prescriptive example of conspicuous waste and of conservatism, and (3) indirectly through that system of unequal distribution of wealth and sustenance on which the institution itself rests.

To this is to be added that the leisure class has also

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