220 Economic Theory: An Introductionals was counted in terms of their trophies, which were tributes to
their predatory nature. Their standing in the community was
elevated, not according to their contribution to the production
necessary to maintain the group, but rather by their ability,
through conquest, to stand apart from the group. Thus, conquest,
not contribution, was the honored activity.
This predatory man, Veblen asserts, has not changed his
nature, just his method. As time went on the struggle for
existence became a competition for monetary strength. Money
became the new trophy, and the predatory man became the
pecuniary man, but his nature remained the same. Pecuniary
man’s successful aggression takes place in business, not on the
battlefield. Thus the seizure of wealth is the role of the contem
porary warrior, and money is the trophy. In contemporary
society the predator, like his barbarian ancestor stands apart
from the rest of society, and his conquest, not contribution, is
also the honored activity.
In the present economic system, the industrial class produces
the goods necessary to the survival of the group. Members of the
group, like the primitive men of the past, are not looked up to for
their contribution, but are considered drones involved in drudg
ery, and are looked down upon. The predators set up a non
industrial class, which is involved in the aggressive seizure of
goods without any participation in the production of those
goods. This non industrial class is called the “leisure class”
because it does not perform useful work. Society has come to
admire the leisure class as they had admired the powerful
warriors in primitive society. In the eyes of society, those of the
leisure class are the powerful members, and the common people
seek to ape their betters.
The next development in Veblen ’ s theory is that of “pecuniary
emulation.” Emulation is man’s most powerful economic mo
tive, with the exception of survival or self-preservation. Since
contemporary industrial society uses money as its most impor
tant trophy, the common man seeks to emulate the leisure class
by accumulating wealth. The lower classes seek to attain wealth,
not as a matter of survival, but simply to emulate the leisure class.
In this matter Veblen differs strongly with Marx, who thought
the workers wanted to overthrow their employers. “The workers
do not seek to to displace their managers; they seek to emulate
them,” says Veblen.