THE THEORY OF THE LEISURE CLASS

Book Details

• Author: Thorstein Veblen

• Publisher: Rawat Publications

• Language: English

• Edition: 2023

• ISBN: 9788131613313

• Pages: 416

• Cover: Hardcover

• Release Date: 20-04-2023

• Sale Territory: India

About the Book

The Theory of the Leisure Class, the groundbreaking and most celebrated work by Thorstein Veblen, offers a piercing critique of the values and institutions underpinning modern society. With sharp wit and unflinching satire, Veblen dismantles the illusion that status, taste, education, and culture are genuine measures of accomplishment. Instead, he asserts that these are often mere symbols of conspicuous consumption and ostentatious display.

At the heart of this classic lies Veblen’s provocative theory that modern social structures have evolved from ancient tribal divisions of labor. The leisure class, he explains, came to dominate tasks deemed prestigious—such as warfare and sport—while relegating productive work like agriculture and domestic labor to lower social ranks. This dynamic still underpins societal hierarchies today, with the economic elite continuing to distance themselves from manual labor in favor of symbolic and superficial pursuits.

In this book, Veblen famously coined the term "conspicuous consumption", illuminating how consumer behavior is often driven not by need, but by a desire to display wealth and social standing. He also explores how fashion, education, devoutness, and even luck are influenced by economic motives. With themes that remain powerfully relevant, this landmark text continues to shape discourse in sociology, cultural studies, and economics.

Contents

1. Introductory

2. Pecuniary Emulation

3. Conspicuous Leisure

4. Conspicuous Consumption

5. The Pecuniary Standard of Living

6. Pecuniary Canons of Taste

7. Dress as an Expression of the Pecuniary Culture

8. Industrial Exemption and Conservatism

9. The Conservation of Archaic Traits

10. Modern Survivals of Prowess

11. The Belief in Luck

12. Devout Observances

13. Survivals of the Non-Invidious Interest

14. The Higher Learning as an Expression of the Pecuniary Culture

About the Author

Thorstein Veblen (1857–1929) was a pioneering American economist and sociologist known for his incisive critiques of capitalism and social behavior. Educated at Carleton College, Johns Hopkins University, and Yale University, Veblen became a central figure in the institutional economics movement. He is celebrated for his unique ability to merge economic analysis with sociological insights, and for introducing enduring concepts such as "conspicuous consumption" and "pecuniary emulation". His legacy continues through the influential "Veblenian dichotomy"—the distinction between technological progress and institutional constraints—which remains foundational in economic theory.