Investing · Western classics
Thorstein Veblen:The Theory of the Leisure Class, Excerpt 43
Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing
As the standard of wealth recognized by common consent advances, the possession and exploitation of servants as a means of showing superfluity undergoes a refinement. The possession and maintenance of slaves employed in the production of goods argues wealth and prowess, but the maintenance of servants who produce nothing argues still higher wealth and position. Under this principle there arises a class of servants, the more numerous the better, whose sole office is fatuously to wait upon the person of their owner, and so to put in evidence his ability unproductively to consume a large amount of service. There supervenes a division of labour among the servants or dependents whose life is spent in maintaining the honour of the gentleman of leisure. So that, while one group produces goods for him, another group, usually headed by the wife, or chief, consumes for him in conspicuous leisure; thereby putting in evidence his ability to sustain large pecuniary damage without impairing his superior opulence.
Source:
https://www.gutenberg.org/ebooks/833
Locator:Excerpt 43 · 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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