The Theory of the Leisure Class by Thorstein Veblen (phonics readers TXT) 📕
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1899 was the tail end of the Gilded Age, a time in America of rapid economic expansion that caused a select few to become ultra-wealthy, while millions of commoners struggled in abject poverty. It was against this backdrop that Veblen, an economist and sociologist at the University of Chicago, wrote The Theory of the Leisure Class, a book that brought the phrase “conspicuous consumption” into the modern vocabulary.
Veblen’s thesis centers on the definition of what he calls the “leisure class,” the upper social class consisting of wealthy individuals who are socially exempt from productive work. Their work instead becomes what he calls “conspicuous consumption”: spending their wealth in increasingly ostentatious ways in order to preserve their class status. Meanwhile, the lower and middle classes are the ones actually engaged in work that is productive to society—manufacturing and industry—with the goal of eventually being able to emulate the social status afforded by the conspicuous consumption of their leisure class masters.
Along the way, Veblen links these behaviors with social strictures left over from feudal society, arguing that contemporary human society has not evolved far beyond our medieval peasant-and-lord forefathers. In those ancient societies, productive labor came to be viewed as disreputable and dirty; thus, status is won not by accumulating wealth, but by displaying the evidence of wealth. He argues that many of what some would consider society’s ills are linked to this fundamental concept: for example, the mistreatment of women—forcing them into constricting clothing, preventing them from participating in independent economic life—is a way for their husbands to show off their unemployed status as a kind of conspicuous leisure; or society’s obsession with sports, celebrity, and organized religion, all forms of conspicuous leisure that bring no productive benefit to society, and on the contrary waste time and resources, but whose practitioners—superstars and clergy—maintain a high social status.
Though it was written over a hundred years ago when industrial society was just getting its footing, Veblen’s thesis predicts much of the social stratification we recognize today. Practical labor continues to be viewed as basically demeaning, while people struggle in vain to chase a glimmer of the vast wealth that celebrities, investors, bankers, hedge fund managers, and C-suite dwellers—the conspicuously-consuming leisure class of today—openly flaunt. As such, The Theory of the Leisure Class might be one of the most prescient and influential books of economic and social science of the 20th century.
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- Author: Thorstein Veblen
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Table of Contents Titlepage Imprint Preface The Theory of the Leisure Class I: Introductory II: Pecuniary Emulation III: Conspicuous Leisure IV: Conspicuous Consumption V: The Pecuniary Standard of Living VI: Pecuniary Canons of Taste VII: Dress as an Expression of the Pecuniary Culture VIII: Industrial Exemption and Conservatism IX: The Conservation of Archaic Traits X: Modern Survivals of Prowess XI: The Belief in Luck XII: Devout Observances XII: Survivals of the Non-Invidious Interests XIV: The Higher Learning as an Expression of the Pecuniary Colophon Uncopyright ImprintThis ebook is the product of many hours of hard work by volunteers for Standard Ebooks, and builds on the hard work of other literature lovers made possible by the public domain.
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PrefaceIt is the purpose of this inquiry to discuss the place and value of the leisure class as an economic factor in modern life, but it has been found impracticable to confine the discussion strictly within the limits so marked out. Some attention is perforce given to the origin and the line of derivation of the institution, as well as to features of social life that are not commonly classed as economic.
At some points the discussion proceeds on grounds of economic theory or ethnographical generalisation that may be in some degree unfamiliar. The introductory chapter indicates the nature of these theoretical premises sufficiently, it is hoped, to avoid obscurity. A more explicit statment of the theoretical position involved is made in a series of papers published in Volume IV of the American Journal of Sociology, on “The Instinct of Workmanship and the Irksomeness of Labour,” “The Beginnings of Ownership,” and “The Barbarian Status of Women.” But the argument does not rest on these—in part novel—generalisations in such a way that it would altogether lose its possible value as a detail of economic theory in case these novel generalisations should, in the reader’s apprehension, fall away through being insufficiently backed by authority or data.
Partly for reasons of convenience, and partly because there is less chance of misapprehending the sense of phenomena that are familiar to all men, the data employed to illustrate or enforce the argument have by preference been drawn from everyday life, by direct observation or through common notoriety, rather than from more recondite sources at a farther remove. It is hoped that no one will find his sense of literary or scientific fitness offended by this recourse to homely facts, or by what may at times appear to be a callous freedom in handling vulgar phenomena or phenomena whose intimate place in men’s life has sometimes shielded them from the impact of economic discussion.
Such premises and corroborative evidence as are drawn from remoter sources, as well as whatever articles of theory or inference are borrowed from ethnological science, are also of the more familiar and accessible kind and should be readily traceable to their source by fairly well-read persons. The usage of citing sources and authorities has therefore not been observed. Likewise the few quotations that have been introduced, chiefly by way of illustration, are also such as will commonly be recognised with sufficient facility without the guidance of citation.
The Theory of the Leisure Class An Economic Study of Institutions I IntroductoryThe institution of a leisure class is found in its best development at the higher stages of the barbarian culture; as, for instance, in feudal Europe or feudal Japan. In such communities the distinction between classes is very rigorously observed; and the feature of most striking economic significance in these class differences is the distinction maintained between the employments proper to the several classes. The upper classes are by custom exempt or excluded from industrial occupations, and are reserved for certain employments to which a degree of honour attaches. Chief among the honourable employments in any feudal community is warfare; and priestly service is commonly second to warfare. If the barbarian community is not notably warlike, the priestly office may take the precedence, with that of the warrior second. But the rule holds with but slight exceptions that, whether warriors or priests, the upper classes are exempt from industrial employments, and this exemption is the economic expression of their superior rank. Brahmin India affords a fair illustration of the industrial exemption of both these classes. In the communities belonging to the higher barbarian culture there is a considerable differentiation of subclasses within what may be comprehensively called the leisure class; and there is a corresponding differentiation of employments between these subclasses. The leisure class as a whole comprises the noble and the priestly classes, together with much of their retinue. The occupations of the class are correspondingly diversified; but they have the common economic characteristic of being nonindustrial. These nonindustrial upper-class occupations may be roughly comprised under government, warfare, religious observances, and sports.
At an earlier, but not the earliest, stage of barbarism, the leisure class is found in a less differentiated form. Neither the class distinctions nor the distinctions between leisure-class occupations are so minute and intricate. The Polynesian islanders generally show
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