The Theory of the Leisure Class

The Theory of the Leisure Class is a book, first published in 1899, by the American economist Thorstein Veblen while he was a professor at the University of Chicago.

Conspicuous consumption and leisure

Veblen, in this book, coined the now-common concepts of conspicuous consumption and conspicuous leisure.

Related Topics:
Conspicuous consumption - Conspicuous leisure

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He defined conspicuous consumption as the waste of money by people to display a higher status than others. One famous example he used was the use of silver utensils at meals, even though utensils made of cheaper material worked just as well or, in some cases, better.

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He defined conspicuous leisure as the waste of time by people to give themselves higher status. As examples, he noted that to be a "gentleman", a man must study such things as philosophy and the fine arts, which have no economic value in themselves.

Related Topics:
Gentleman - Philosophy - Fine arts

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