Investing · Western classics
Thorstein Veblen:The Theory of the Leisure Class, Excerpt 47
Thorstein Veblen《The Theory of the Leisure Class》· The Theory of the Leisure Class · Investing
The quasi-peaceable gentleman of leisure, then, not only consumes of the staff of life beyond the minimum required for subsistence and physical efficiency, but his consumption also undergoes a specialisation as regards the quality of the goods consumed. He consumes freely and of the best, in food, drink, narcotics, shelter, services, ornaments, apparel, weapons and accoutrements, amusements, amulets, and idols or divinities. In the process of gradual amelioration which takes place in the articles of his consumption, the motive principle and proximate aim of innovation is no doubt the higher efficiency of the improved and more elaborate products for personal comfort and well-being. But that does not remain the sole purpose of their consumption. The canon of reputability is at hand and seizes upon such innovations as are, according to its standard, fit to survive. Since the consumption of these more excellent goods is an evidence of wealth, it becomes honorific; and conversely, the failure to consume in due quantity and quality becomes a mark of inferiority and demerit.
Source:
https://www.gutenberg.org/ebooks/833
Locator:Excerpt 47 · 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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