Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 97

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

The institution of a leisure class has an effect not only upon social structure but also upon the individual character of the members of society. So soon as a given proclivity or a given point of view has won acceptance as an authoritative standard or norm of life it will react upon the character of the members of the society which has accepted it as a norm. It will to some extent shape their habits of thought and will exercise a selective surveillance over the development of men's aptitudes and inclinations. This effect is wrought partly by a coercive, educational adaptation of the habits of all individuals, partly by a selective elimination of the unfit individuals and lines of descent. Such human material as does not lend itself to the methods of life imposed by the accepted scheme suffers more or less elimination as well as repression. The principles of pecuniary emulation and of industrial exemption have in this way been erected into canons of life, and have become coercive factors of some importance in the situation to which men have to adapt themselves.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 97 · 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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