Investing · Western classics

Thorstein Veblen:The Theory of the Leisure Class, Excerpt 98

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

These two broad principles of conspicuous waste and industrial exemption affect the cultural development both by guiding men's habits of thought, and so controlling the growth of institutions, and by selectively conserving certain traits of human nature that conduce to facility of life under the leisure-class scheme, and so controlling the effective temper of the community. The proximate tendency of the institution of a leisure class in shaping human character runs in the direction of spiritual survival and reversion. Its effect upon the temper of a community is of the nature of an arrested spiritual development. In the later culture especially, the institution has, on the whole, a conservative trend. This proposition is familiar enough in substance, but it may to many have the appearance of novelty in its present application. Therefore a summary review of its logical grounds may not be uncalled for, even at the risk of some tedious repetition and formulation of commonplaces.

Source: https://www.gutenberg.org/ebooks/833
Locator:Excerpt 98 · 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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