Investing · Western classics
Thorstein Veblen:The Theory of the Leisure Class, Excerpt 32
Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing
During the predatory stage proper the distinction between the leisure and the labouring class is in some degree a ceremonial distinction only. The able bodied men jealously stand aloof from whatever is in their apprehension, menial drudgery; but their activity in fact contributes appreciably to the sustenance of the group. The subsequent stage of quasi-peaceable industry is usually characterised by an established chattel slavery, herds of cattle, and a servile class of herdsmen and shepherds; industry has advanced so far that the community is no longer dependent for its livelihood on the chase or on any other form of activity that can fairly be classed as exploit. From this point on, the characteristic feature of leisure class life is a conspicuous exemption from all useful employment.
Source:
https://www.gutenberg.org/ebooks/833
Locator:Excerpt 32 · 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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