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The Theory of the Leisure Class
Thorstein Veblen

Paperback edition
Penguin Books, 1979
ISBN: 0-375-50566-0
ISBN: 0-14-018795-2
Originally published, 1899

400 indexable pages
1213 headings, subheadings
2305 locators, 115 cross references

For more about this book, see  Penguin Putnam 
Picture of Thorstein Veblen
Thorstein Veblen


The Theory of the Leisure Class is a masterpiece of economics and deadpan humor in which Veblen repeatedly skewers the business elite of his day. For decades, it was very popular and very widely read, but that is no longer so. It did not decline in popularity because it had become irrelevant or because its ideas had been discredited. Neither is true. Its decline in popularity may be attributed to two factors. One factor is our current social and political climate. Conservatives and corporate leaders are now firmly in control of education and the press. Neither group is interested in skewering business elites; they prefer pandering to them. Veblen is not on their reading lists. The second factor is Veblen's style. Today, most people prefer simple ideas, simply expressed. Veblen's ideas are relatively straightforward, but his sentences are not. They are convoluted parodies of academic locutions. They are perfectly suited to his irony and his subject. Witness the last sentences in the book:

Classic speech has the honorific virtue of dignity; it commands attention and respect as being the accredited method of communication under the leisure-class scheme of life, because it carries a pointed suggestion of the industrial exemption of the speaker. The advantage of the accredited locutions lies in their reputability; they are reputable because they are cumbrous and out of date, and therefore argue waste of time and exemption from the use and the need of direct and forcible speech.

That's as wonderful as the ending to Philip Roth's Portnoy's Complaint. RIP TBV.


A

ability to pay

conspicuous consumption evidence of, 84

consumable goods evidence of, 154–155

dress evidence of, 167–168, 169

evidence of success and superior force, 181

harder to discern as wealth grows, 188

honour and esteem in industrial communities based on, 86–87

increases in, results of, 102, 110

knowledge of classics evidence of, 397

leisure evidence of, 84

personal servants evidence of, 57, 62

required by all classes, 241

women's dress and leisure evidence of men's, 182

acquisition

invidious comparison based on, 208

motivation for, 25–26, 32

pecuniary emulation based on, 208

adults, defined, 251–252

aesthetic nausea, 178

agriculture, 283–284

alcohol consumption, 70, 108

America. See United States

angling (fishing), 255, 257, 258, 260

animals

for conspicuous consumption, 140, 142

exotic, 134–135

pecuniary beauty of, 139–144

animism

anthropomorphic cults expressions of, 292

becoming obsolescent, 331

devout observances expressions of, 292

economic significance, 282–285, 287–288

nature of, 279–280, 285–286

phases displayed in sports, 296

in predatory stage, 289–290

in primitive culture, 289–290

in sportsmen, 290

unsuited to industrial society, 304

anthropomorphism, anthropomorphic cults

animism expressed by, 292

disintegration of, 332–333

divinities as predatory chieftains, 303–304

anthropomorphism, anthropomorphic cults (continued)

economic significance, 282–285, 287–288, 306–307

habits of thought fostered by, 300

industrial efficiency curtailed by, 307, 318

nature of, 280–281, 286–287, 291–292

in predatory stage, 289–290

in primitive culture, 289

prowess correlated with, 290

in sportsmen, 290

status in, 291–292, 301–302

subsidiary impulses (charity, goodwill, etc.), 332–335

unsuited to industrial society, 304

antiwar movement, 339

aptitudes

abeyance through disuse, 112

development of, 212, 220–221

habits affected by, 108–109

pecuniary, 246

suitable to employments, 239–240

workmanlike deranged by classical learning, 395

archaic traits

conserved by leisure class, 64, 233–235, 237, 240, 241, 244

surviving, 221–222, 253, 267–268, 270, 276–277, 304–305, 368–370, 374, 378

architecture, 153–154, 349

arrested spiritual development

exceptional devoutness a mark of, 305

in gentlemen of leisure, 253–254

in sportsmen, 256

astuteness, 274–275

athletics, 255, 256, 258, 260, 262, 298–299


B

bankers, 231

barbarian culture, barbarians

aggressiveness an advantage, 223

animate vs. inert things in, 11–12

clannishness in, 379

class antagonism in, 222

division of labour in, 4, 5

earlier stage of development, 2–3, 236, 246, 262

barbarian culture, barbarians (continued)

emulation in, 16–17, 222–223

exploit in, 12

higher stage of development, 1–2

honourable activities, 18

legacy, 290–291

leisure class in, 2, 3–4

lower stage of development, 3–5

manual labour in, 2

men in, 3, 4–5, 14–15, 57

predatory stage of development (see predatory stage)

primitive culture compared to, 6–7, 220–221

quasi-peaceable stage of development (see quasi-peaceable stage of industry)

rehabilitated in football, 262

women in, 2–3, 4–5, 14, 22–24, 53–57

beauty

aesthetic nausea, 178

aesthetics vs. reputable correctness as criteria, 144–145

conspicuous waste's influence on aesthetic standards, 128, 148–149

fashion's search for, 174–175

of humans, 146–149

of the prevailing fashion, 177–178

serviceability a prerequisite, 151–153

from workmanship, 158–159

See also pecuniary beauty (beauty enhanced by expensiveness)

birthrates, 113

bookmaking, artistic, 162–165

boxing (prizefighting), 255

boys

fighting in, 250–254

make-believe in, 256, 259

pseudo-military organizations of, 255, 300

See also men

brachycephalic-brunettes, 217, 226. See also dolichoblonds; Mediterranean type

bullfights, 255, 261

Bushmen, 6

business

derived from predatory pursuits, 210

management in, 232

a pecuniary institution, 209

workers in, 232–233

businessmen, ordinary, 81


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