Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 34

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

It has already been remarked that the term "leisure", as here used, does not connote indolence or quiescence. What it connotes is non-productive consumption of time. Time is consumed non-productively (1) from a sense of the unworthiness of productive work, and (2) as an evidence of pecuniary ability to afford a life of idleness. But the whole of the life of the gentleman of leisure is not spent before the eyes of the spectators who are to be impressed with that spectacle of honorific leisure which in the ideal scheme makes up his life. For some part of the time his life is perforce withdrawn from the public eye, and of this portion which is spent in private the gentleman of leisure should, for the sake of his good name, be able to give a convincing account. He should find some means of putting in evidence the leisure that is not spent in the sight of the spectators. This can be done only indirectly, through the exhibition of some tangible, lasting results of the leisure so spent--in a manner analogous to the familiar exhibition of tangible, lasting products of the labour performed for the gentleman of leisure by handicraftsmen and servants in his employ.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 34 · 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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