Investing · Western classics
Thorstein Veblen:The Theory of the Leisure Class, Excerpt 140
Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing
The pecuniary or the leisure-class culture, which set out as an emulative variant of the impulse of workmanship, is in its latest development beginning to neutralize its own ground, by eliminating the habit of invidious comparison in respect of efficiency, or even of pecuniary standing. On the other hand, the fact that members of the leisure class, both men and women, are to some extent exempt from the necessity of finding a livelihood in a competitive struggle with their fellows, makes it possible for members of this class not only to survive, but even, within bounds, to follow their bent in case they are not gifted with the aptitudes which make for success in the competitive struggle. That is to say, in the latest and fullest development of the institution, the livelihood of members of this class does not depend on the possession and the unremitting exercise of those aptitudes are therefore greater in the higher grades of the leisure class than in the general average of a population living under the competitive system.
Source:
https://www.gutenberg.org/ebooks/833
Locator:Excerpt 140 · 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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