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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The pecuniary employments have also the sanction of reputability in a much higher degree than the industrial employments. In this way the leisure-class standards of good repute come in to sustain the prestige of those aptitudes that serve the invidious purpose; and the leisure-class scheme of decorous living, therefore, also furthers the survival and culture of the predatory traits. Employments fall into a hierarchical gradation of reputability. Those which have to do immediately with ownership on a large scale are the most reputable of economic employments proper. Next to these in good repute come those employments that are immediately subservient to ownership and financiering—such as banking and the law. Banking employments also carry a suggestion of large ownership, and this fact is doubtless accountable for a share of the prestige that attaches to the business. The profession of the law does not imply large ownership; but since no taint of usefulness, for other than the competitive purpose, attaches to the lawyer’s trade, it grades high in the conventional scheme. The lawyer is exclusively occupied with the details of predatory fraud, either in achieving or in checkmating chicanery, and success in the profession is therefore accepted as marking a large endowment of that barbarian astuteness which has always commanded men’s respect and fear. Mercantile pursuits are only halfway reputable, unless they involve a large element of ownership and a small element of usefulness. They grade high or low somewhat in proportion as they serve the higher or the lower needs; so that the business of retailing the vulgar necessaries of life descends to the level of the handicrafts and factory labor. Manual labor, or even the work of directing mechanical processes, is of course on a precarious footing as regards respectability. A qualification is necessary as regards the discipline given by the pecuniary employments. As the scale of industrial enterprise grows larger, pecuniary management comes to bear less of the character of chicanery and shrewd competition in detail. That is to say, for an ever-increasing proportion of the persons who come in contact with this phase of economic life, business reduces itself to a routine in which there is less immediate suggestion of overreaching or exploiting a competitor. The consequent exemption from predatory habits extends chiefly to subordinates employed in business. The duties of ownership and administration are virtually untouched by this qualification. The case is different as regards those individuals or classes who are immediately occupied with the technique and manual operations of production. Their daily life is not in the same degree a course of habituation to the emulative and invidious motives and maneuvers of the pecuniary side of industry. They are consistently held to the apprehension and coordination of mechanical facts and sequences, and to their appreciation and utilization for the purposes of human life. So far as concerns this portion of the population, the educative and selective action of the industrial process with which they are immediately in contact acts to adapt their habits of thought to the non-invidious purposes of the collective life. For them, therefore, it hastens the obsolescence of the distinctively predatory aptitudes and propensities carried over by heredity and tradition from the barbarian past of the race.
The educative action of the economic life of the community, therefore, is not of a uniform kind throughout all its manifestations. That range of economic activities which is concerned immediately with pecuniary competition has a tendency to conserve certain predatory traits; while those industrial occupations which have to do immediately with the production of goods have in the main the contrary tendency. But with regard to the latter class of employments it is to be noticed in qualification that the persons engaged in them are nearly all to some extent also concerned with matters of pecuniary competition (as, for instance, in the competitive fixing of wages and salaries, in the purchase of goods for consumption, etc.). Therefore the distinction here made between classes of employments is by no means a hard and fast distinction between classes of persons.
The employments of the leisure classes in modern industry are such as to keep alive certain of the predatory habits and aptitudes. So far as the members of those classes take part in the industrial process, their training tends to conserve in them the barbarian temperament. But there is something to be said on the other side. Individuals so placed as to be exempt from strain may survive and transmit their characteristics even if they differ widely from the average of the species both in physique and in spiritual makeup. The chances for a survival and transmission of atavistic traits are greatest in those classes that are most sheltered from the stress of circumstances. The leisure class is in some degree sheltered from the stress of the industrial situation, and should, therefore, afford an exceptionally great proportion of reversions to the peaceable or savage temperament. It should be possible for such aberrant or atavistic individuals to unfold their life activity on ante-predatory lines without suffering as prompt a repression or elimination as in the lower walks of life.
Something of the sort seems to be true in fact. There is, for instance, an appreciable proportion of the upper classes whose inclinations lead them into philanthropic work, and there is a considerable body of sentiment in the class going to support efforts of
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