Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 153

Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing

By way of characterization of the Maecenas relation, it is to be noted that, considered externally, as an economic or industrial relation simply, it is a relation of status. The scholar under the patronage performs the duties of a learned life vicariously for his patron, to whom a certain repute inures after the manner of the good repute imputed to a master for whom any form of vicarious leisure is performed. It is also to be noted that, in point of historical fact, the furtherance of learning or the maintenance of scholarly activity through the Maecenas relation has most commonly been a furtherance of proficiency in classical lore or in the humanities. The knowledge tends to lower rather than to heighten the industrial efficiency of the community.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 153 · 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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