Investing · Western classics
Thorstein Veblen:The Theory of the Leisure Class, Excerpt 127
Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing
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.
Source:
https://www.gutenberg.org/ebooks/833
Locator:Excerpt 127 · Verified:2026-10-19 · Verification:Short excerpt
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Does this passage change one judgment about money or risk today?
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