Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 159

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

It is true, since conspicuous consumption has gained more and more on conspicuous leisure as a means of repute, the acquisition of the dead languages is no longer so imperative a requirement as it once was, and its talismanic virtue as a voucher of scholarship has suffered a concomitant impairment. But while this is true, it is also true that the classics have scarcely lost in absolute value as a voucher of scholastic respectability, since for this purpose it is only necessary that the scholar should be able to put in evidence some learning which is conventionally recognized as evidence of wasted time; and the classics lend themselves with great facility to this use. Indeed, there can be little doubt that it is their utility as evidence of wasted time and effort, and hence of the pecuniary strength necessary in order to afford this waste, that has secured to the classics their position of prerogative in the scheme of higher learning, and has led to their being esteemed the most honorific of all learning. They serve the decorative ends of leisure-class learning better than any other body of knowledge, and hence they are an effective means of reputability.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 159 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

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