The Theory of the Leisure Class by Thorstein Veblen (phonics readers TXT) 📕
Description
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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While men may have set out with disapproving an inexpensive manner of living because it indicated inability to spend much, and so indicated a lack of pecuniary success, they end by falling into the habit of disapproving cheap things as being intrinsically dishonorable or unworthy because they are cheap. As time has gone on, each succeeding generation has received this tradition of meritorious expenditure from the generation before it, and has in its turn further elaborated and fortified the traditional canon of pecuniary reputability in goods consumed; until we have finally reached such a degree of conviction as to the unworthiness of all inexpensive things, that we have no longer any misgivings in formulating the maxim, “Cheap and nasty.” So thoroughly has the habit of approving the expensive and disapproving the inexpensive been ingrained into our thinking that we instinctively insist upon at least some measure of wasteful expensiveness in all our consumption, even in the case of goods which are consumed in strict privacy and without the slightest thought of display. We all feel, sincerely and without misgiving, that we are the more lifted up in spirit for having, even in the privacy of our own household, eaten our daily meal by the help of hand-wrought silver utensils, from hand-painted china (often of dubious artistic value) laid on high-priced table linen. Any retrogression from the standard of living which we are accustomed to regard as worthy in this respect is felt to be a grievous violation of our human dignity. So, also, for the last dozen years candles have been a more pleasing source of light at dinner than any other. Candlelight is now softer, less distressing to well-bred eyes, than oil, gas, or electric light. The same could not have been said thirty years ago, when candles were, or recently had been, the cheapest available light for domestic use. Nor are candles even now found to give an acceptable or effective light for any other than a ceremonial illumination.
A political sage still living has summed up the conclusion of this whole matter in the dictum: “A cheap coat makes a cheap man,” and there is probably no one who does not feel the convincing force of the maxim.
The habit of looking for the marks of superfluous expensiveness in goods, and of requiring that all goods should afford some utility of the indirect or invidious sort, leads to a change in the standards by which the utility of goods is gauged. The honorific element and the element of brute efficiency are not held apart in the consumer’s appreciation of commodities, and the two together go to make up the unanalyzed aggregate serviceability of the goods. Under the resulting standard of serviceability, no article will pass muster on the strength of material sufficiency alone. In order to completeness and full acceptability to the consumer it must also show the honorific element. It results that the producers of articles of consumption direct their efforts to the production of goods that shall meet this demand for the honorific element. They will do this with all the more alacrity and effect, since they are themselves under the dominance of the same standard of worth in goods, and would be sincerely grieved at the sight of goods which lack the proper honorific finish. Hence it has come about that there are today no goods supplied in any trade which do not contain the honorific element in greater or less degree. Any consumer who might, Diogenes-like, insist on the elimination of all honorific or wasteful elements from his consumption, would be unable to supply his most trivial wants in the modern market. Indeed, even if he resorted to supplying his wants directly by his own efforts, he would find it difficult if not impossible to divest himself of the current habits of thought on this head; so that he could scarcely compass a supply of the necessaries of life for a day’s consumption without instinctively and by oversight incorporating in his homemade product something of this honorific, quasi-decorative element of wasted labor.
It is notorious that in their selection of serviceable goods in the retail market purchasers are guided more by the finish and workmanship of the goods than by any marks of substantial serviceability. Goods, in order to sell, must have some appreciable amount of labor spent in giving them the marks of decent expensiveness, in addition to what goes to give them efficiency for the material use which they are to serve. This habit of making obvious costliness a canon of serviceability of course acts to enhance the aggregate cost of articles of consumption. It puts us on our guard against cheapness by identifying merit in some degree with cost. There is ordinarily a consistent effort on the part of the consumer to obtain goods of the required serviceability at as advantageous a bargain as may be; but the conventional requirement of obvious costliness, as a voucher and a constituent of the serviceability of the goods, leads him to reject as under grade such goods as do not contain a large element of conspicuous waste.
It is to be added that a large share of those features of consumable goods which figure in popular apprehension as marks of serviceability, and to which reference is here had as elements of conspicuous waste, commend themselves to the consumer also on other grounds than that of expensiveness
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