Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 74

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

It is to be added that a large share of those features of consumable goods which figure in popular apprehension as marks of serviceability, and to which reference is here had as elements of conspicuous waste, commend themselves to the consumer also on other grounds than that of expensiveness alone. They usually give evidence of skill and effective workmanship, even if they do not contribute to the substantial serviceability of the goods; and it is no doubt largely on some such ground that any particular mark of honorific serviceability first comes into vogue and afterward maintains its footing as a normal constituent element of the worth of an article. A display of efficient workmanship is pleasing simply as such, even where its remoter, for the time unconsidered, outcome is futile. There is a gratification of the artistic sense in the contemplation of skillful work. But it is also to be added that no such evidence of skillful workmanship, or of ingenious and effective adaptation of means to an end, will, in the long run, enjoy the approbation of the modern civilized consumer unless it has the sanction of the Canon of conspicuous waste.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 74 · 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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