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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Something to a like effect is to be said of other traits that go to make up the barbarian character. For the purposes of economic theory, these further barbarian traits may be taken as concomitant variations of that predaceous temper of which prowess is an expression. In great measure they are not primarily of an economic character, nor do they have much direct economic bearing. They serve to indicate the stage of economic evolution to which the individual possessed of them is adapted. They are of importance, therefore, as extraneous tests of the degree of adaptation of the character in which they are comprised to the economic exigencies of today, but they are also to some extent important as being aptitudes which themselves go to increase or diminish the economic serviceability of the individual.
As it finds expression in the life of the barbarian, prowess manifests itself in two main directions—force and fraud. In varying degrees these two forms of expression are similarly present in modern warfare, in the pecuniary occupations, and in sports and games. Both lines of aptitudes are cultivated and strengthened by the life of sport as well as by the more serious forms of emulative life. Strategy or cunning is an element invariably present in games, as also in warlike pursuits and in the chase. In all of these employments strategy tends to develop into finesse and chicanery. Chicanery, falsehood, browbeating, hold a well-secured place in the method of procedure of any athletic contest and in games generally. The habitual employment of an umpire, and the minute technical regulations governing the limits and details of permissible fraud and strategic advantage, sufficiently attest the fact that fraudulent practices and attempts to overreach one’s opponents are not adventitious features of the game. In the nature of the case habituation to sports should conduce to a fuller development of the aptitude for fraud; and the prevalence in the community of that predatory temperament which inclines men to sports connotes a prevalence of sharp practice and callous disregard of the interests of others, individually and collectively. Resort to fraud, in any guise and under any legitimation of law or custom, is an expression of a narrowly self-regarding habit of mind. It is needless to dwell at any length on the economic value of this feature of the sporting character.
In this connection it is to be noted that the most obvious characteristic of the physiognomy affected by athletic and other sporting men is that of an extreme astuteness. The gifts and exploits of Ulysses are scarcely second to those of Achilles, either in their substantial furtherance of the game or in the éclat which they give the astute sporting man among his associates. The pantomime of astuteness is commonly the first step in that assimilation to the professional sporting man which a youth undergoes after matriculation in any reputable school, of the secondary or the higher education, as the case may be. And the physiognomy of astuteness, as a decorative feature, never ceases to receive the thoughtful attention of men whose serious interest lies in athletic games, races, or other contests of a similar emulative nature. As a further indication of their spiritual kinship, it may be pointed out that the members of the lower delinquent class usually show this physiognomy of astuteness in a marked degree, and that they very commonly show the same histrionic exaggeration of it that is often seen in the young candidate for athletic honors. This, by the way, is the most legible mark of what is vulgarly called “toughness” in youthful aspirants for a bad name.
The astute man, it may be remarked, is of no economic value to the community—unless it be for the purpose of sharp practice in dealings with other communities. His functioning is not a furtherance of the generic life process. At its best, in its direct economic bearing, it is a conversion of the economic substance of the collectivity to a growth alien to the collective life process—very much after the analogy of what in medicine would be called a benign tumor, with some tendency to transgress the uncertain line that divides the benign from the malign growths. The two barbarian traits, ferocity and astuteness, go to make up the predaceous temper or spiritual attitude. They are the expressions of a narrowly self-regarding habit of mind. Both are highly serviceable for individual expediency in a life looking to invidious success. Both also have a high aesthetic value. Both are fostered by the pecuniary culture. But both alike are of no use for the purposes of the collective life.
XI The Belief in LuckThe gambling propensity is another subsidiary trait of the barbarian temperament. It is a concomitant variation of character of almost universal prevalence among sporting men and among men given to warlike and emulative activities generally. This trait also has a direct economic value. It is recognized to be a hindrance to the highest industrial efficiency of the aggregate in any community where it prevails in an appreciable degree. The gambling proclivity is doubtfully to be classed as a feature belonging exclusively to the predatory type of human nature. The chief factor in the gambling habit is the belief in luck; and this belief is apparently traceable, at least in its elements, to a stage in human evolution antedating the predatory culture. It may well have been under the predatory culture that the belief in luck was developed into the form in which it is present, as the chief element of the gambling proclivity, in the sporting temperament. It probably owes the specific form under which it occurs in the modern culture to the predatory discipline. But the belief in luck is in substance a habit of more ancient date than the predatory culture. It is one form of the artistic apprehension of things. The belief seems to be a trait carried over in substance from an earlier phase into the barbarian culture, and transmuted
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