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** Free PDF The Theory of the Leisure Class, by Thorstein Veblen

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The Theory of the Leisure Class, by Thorstein Veblen

The Theory of the Leisure Class, by Thorstein Veblen



The Theory of the Leisure Class, by Thorstein Veblen

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The Theory of the Leisure Class, by Thorstein Veblen

An economic treatise and social critique.

  • Published on: 2015-02-26
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.00" h x .61" w x 5.00" l, .59 pounds
  • Binding: Paperback
  • 242 pages

Review

"In his first and most fascinating book, Veblen was mocking a process as old as civilization. He expressed his skepticism in a rough-hewn prose style which made him the most impressive American satirist of his day."

 —Time

 "Every brash, upcoming generation should discover Veblen, and most complacent adults need to rediscover him."

 —The Minneapolis Tribune

From the Inside Flap
Almost a century after its original publication, Thorstein Veblen's work is as fresh and relevant as ever. Veblen's The Theory of the Leisure Class is in the tradition of Adam Smith's The Wealth of Nations and Thomas Hobbes's Leviathan, yet it provides a surprisingly contemporary look at American economics and society. Establishing such terms as "conspicuous consumption" and "pecuniary emulation," Veblen's most famous work has become an archetype not only of economic theory, but of historical and sociological thought as well. As sociologist Alan Wolfe writes in his Introduction, Veblen "skillfully . . . wrote a book that will be read so long as the rich are different from the rest of us; which, if the future is anything like the past, they always will be."

About the Author
Thorstein Bunde Veblen, (1857–1929) was an American sociologist and economist and a primary mentor, along with John R. Commons, of the institutional economics movement. Besides his technical work he was a popular and witty critic of capitalism, as shown by his best known book The Theory of the Leisure Class (1899). Veblen is famous in the History of economic thought for combining a Darwinian evolutionary perspective with his new institutionalist approach to economic analysis. He combined sociology with economics in his masterpiece, The Theory of the Leisure Class (1899), arguing there was a basic distinction between the productiveness of "industry," run by engineers, which manufactures goods, and the parasitism of "business," which exists only to make profits for a leisure class. The chief activity of the leisure class was "conspicuous consumption", and their economic contribution is "waste," activity that contributes nothing to productivity. The American economy was therefore made inefficient and corrupt by the businessmen, though he never made that claim explicit. Veblen believed that technological advances were the driving force behind cultural change, but, unlike many contemporaries, he refused to connect change with progress. Although Veblen was sympathetic to state ownership of industry, he had a low opinion of workers and the labor movement and was hostile toward Marxism. As a leading intellectual of the Progressive Era, his sweeping attack on production for profit and his stress on the wasteful role of consumption for status greatly influenced socialist thinkers and engineers seeking a non-Marxist critique of capitalism. Experts complained his ideas, while brilliantly presented, were crude, gross, fuzzy, and imprecise; others complained he was a wacky eccentric. Scholars continue to debate exactly what he meant in his convoluted, ironic and satiric essays; he made heavy use of examples of primitive societies, but many examples were pure invention.

Most helpful customer reviews

77 of 82 people found the following review helpful.
Is economics allowed to be this much fun?
By A Customer
It's true to say that Veblen's book is one of the great classics of economic theory; however, such a description suggests (at least to non-economists like myself) that the book will be either dull or remorselessly technical. On the contrary, "The Theory of the Leisure Class" is stylishly written, endlessly startling (for example, Veblen analyses religion as an outgrowth of the gambling instinct), and very, very funny. Its expose of "conspicuous consumption" (yes, Veblen was the one who invented this famous concept) is as relevant today as it was in 1899, if not more so. Whether or not you agree with all that he says, it's thought-provoking and exciting stuff.

58 of 69 people found the following review helpful.
VERY FRESH 100 YEARS OLD BOOK
By Luciano Lupini
This opus by Veblen exposes the real meaning of the pecuniary advancement of the working and merchant classes, and the formation of elites based mostly upon money and asset valuation. The transfiguration of the traditional social and individual ethical values that this phenomenon produced, is portraited with clarity and sarcastic intelligence by the author in the book, first published in 1899.
Now a classic of economic theory, as well as a text book of social science, it describes the tendencies of consumerism, leisure and the "materialization" of the ideals of the aspiring new princes (or noveau rich) of society. Veblen's vibrant satire of the tendency of the modern individual to believe that real accomplishment is all about aquiring a condition of ostentatious wealth and status, and his analisis of the inception of modern class structure in America, still stand, a century after, as recommended reading for historians and economists.
If you are a fervent follower of advertisement, fashion, "glamour" and other modern expressions of consumerism , then you will find a surprisingly fresh portrait of yourself in this book. It worries me that the leisure class and its shallow views and values as described by Veblen, may still today represent elites in America and their religion, as analyzed by professor Lash in his last book "The Revolt of the Elites". I highly recommend Veblen's best book, to scholars and sociologists at large.

27 of 34 people found the following review helpful.
Leisure as Disease
By Pop Curious
Known by his contemporaries as the only social theorist to apply Darwin critically, in 1899 Thorstein Veblen published The Theory of the Leisure Class: A Economic Study of Institutions, which was to become the basis from which all further American leisure history and theory stemmed. In his study, Veblen is primarily concerned with the "new rich," whom he regards as social parasites that retard the growth of modern life. Thorstein Veblen wrote The Theory of the Leisure Class from a perspective that was largely isolated from his own culture, which either aided in his understanding of the Leisure Class or perhaps negatively influenced his opinions due to his exclusion from it. In The Theory of the Leisure Class, Veblen essentially confines man and woman's existence on the planet as a struggle to change and adapt with the growth of their communities. Through this belief, Veblen develops a theme that amounts to the idea of a certain "dominant" type of individual. This individual develops a social structure through dominance in which social advance is sought by others. She/he will feel the discrepancy between the modern life and traditional life during the process. Though Veblen's rhetoric is sometimes anxious, sometimes negative, he actively pursues a specific account of the origins of the Leisure Class through individuals. The struggle for individual advancement eventually expands to include society, and the more individual struggle for advancement in society leads to the accumulation of surplus goods.
Surplus of conspicuous consumption by the Leisure Class gives the class license to indulge shamefully in pure conspicuous consumption, where their occupations eventually become leisure itself. These "professions" of the Leisure Class by nature render it closed, and impenetrable by outsiders.
Thorstein Veblen wrote the Leisure Class represented the new phenomena of conspicuous consumption compared to pre-Industrialized wealthy communities as well as contemporary working-class ones. But as intellectual inquiry into the topic of leisure has progressed over the past one hundred years, leisure has come to hold a number of definitions and meanings.

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