The Theory of the Leisure Class: An Economic Study of Institutions

The Theory of the Leisure Class is a critique of social conservatism, a trait characteristic of the leisure class. Veblen argues that the wealthy have traditionally maintained the status quo because their lifestyle is built on traditions and habits that maintain their dominance. Over time, the cultural institutions they develop shape society and favor the standards of social stratification that keep them above the middle and working classes. Thus, wealthy men cling to the “habits of thought, points of view, [and] mental attitudes and aptitudes” (127) they establish throughout history. They are, therefore, more reluctant to accept progress and change, especially when these changes challenge pecuniary culture.

In contrast, the industrial class is more likely to adapt and accept progress. This is because progress, here defined as a “readjustment of institutions and habitual views” (128), is only inevitable if people do not have the pecuniary means to avoid it. Veblen does not necessarily believe the industrial class is more innately accepting of progress: they simply cannot avoid it with as much ease as the leisure class. In Chapter 5, he discusses the ease with which members of the industrial class increase their

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