great thinkers, great ideas

(singke) #1
222 Economic Theory: An Introduction

ties which are a part of our nature.
Veblen sees the upper classes as exempt from industrial labor,
but maintains that there are certain activities that are acceptable
in place of productive work. Warfare, religious service, sports,
and government employment are occupations in which the
leisure class can engage without losing their standing in the
community. These are the activities that “most reveal the traits
of predatory man: political deceit and manipulation, military and
athletic exploit and domination, and extravagant religious orna­
mentation and superstition.” These, Veblen claims, are the
modem occupations that conform to the role that the predatory
man once played as a warrior, witch doctor, hunter, or tribal
strong man.
Finally, conspicuous leisure is demonstrated by the develop­
ment of a system of manners, tastes, and decorum. To the extent
that a group can develop a sense of refinement and taste, and can
create a set of rules for behavior—to that extent they can
demonstrate that they are free from the constraints of practical
life. Good table manners are not only impractical, they are totally
undesirable for those men eating lunch deep in the shaft of a coal
mine. Tea parties and the amenities that accompany them are
demonstrations of conspicuous leisure by the upper class.
Conspicuous consumption is similar to conspicuous leisure—
they both are based on waste. However, the difference is signifi­
cant. Conspicuous leisure is the abstention from productive
work, while conspicuous consumption is the consumption of
what others have produced. Simple consumption is not enough.
The social value of consumption is in the level of its conspicuous
nature. The less practical the value, the greater the evidence of
the owner’s status. The gowns displayed at Academy Award
presentations, each unique, rendering the owners incapable of
facilitating productive labor, made of expensive material, and
made for one night’s use, are perfect examples of conspicuous
consumption. Three-and four-hundred horsepower automobiles
in a nation with a fifty-five mile per hour speed limit are also
good examples of conspicuous consumption.
In his book The Theory of Business Enterprise, Veblen put
forth another shocking yet interesting idea. Most people view the
capitalist as the driving force in the process of industrialization.
Veblen not only disagreed but also introduced a revolutionary

Free download pdf