Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 76

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

As has already been pointed out, the cheap, and therefore indecorous, articles of daily consumption in modern industrial communities are commonly machine products; and the generic feature of the physiognomy of machine-made goods as compared with the hand-wrought article is their greater perfection in workmanship and greater accuracy in the detail execution of the design. Hence it comes about that the visible imperfections of the hand-wrought goods, being honorific, are accounted marks of superiority in point of beauty, or serviceability, or both. Hence has arisen that exaltation of the defective, of which John Ruskin and William Morris were such eager spokesmen in their time; and on this ground their propaganda of crudity and wasted effort has been taken up and carried forward since their time. And hence also the propaganda for a return to handicraft and household industry. So much of the work and speculations of this group of men as fairly comes under the characterization here given would have been impossible at a time when the visibly more perfect goods were not the cheaper.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 76 · 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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