4010 Spring09 Questions and Discussion 27

From Studyplace

Discussion leader: Peter G.

 The Theory of the Leisure Class

Written by economist Thorstein Veblen, Veblen wrote this book mainly to address and criticize contemporary culture. Thorstein Veblen mainly spoke about how the leisure class forces their way into higher power through preventing the lower class from excelling through the use of owning weapon and/or learning how to fight in past times. Modern time wise, he spoke about the lack of respect that industrial employment receives versus the praise that white blue-collar jobs obtain.

Introduction

Veblen mainly emphasized that an individuals social class status is determined by ownership of goods and type of employments that were categorize as worthy or unworthy. He mentions that even though hunting could provide food, it was not as worthy of a job as farming. Worthy positions are classed as exploit and are appreciated by the leisure class. The Leisure class was categorized as the emerging ruling class. For the most part, industrial employments were viewed as unworthy. Unworthy were usually everyday employments that are not appreciated.

Q. Do we agree that employments categorized as exploits are worthy, honorable and noble while other employments that do not contain this element of exploit are unworthy, debasing, and ignoble? (P.9)

Q. How can we apply this to modern day today in terms of fulfilling the American dream?

Pecuniary Emulation

Ownership of good is crucial in order to achieve emulation. This chapter emphasizes that it is gratifying to posses something more than others. Veblen mentions that owning property or goods is the way to obtain not only wealth, but retains one’s good name.

“ Wealth acquired passively by transmission from ancestors or other antecedents presently becomes even more honorific than wealth acquired by the possessor’s own effort” (p.19).
Q. Do we concur that ancestor transmission surpasses hard work and effort in obtaining wealth?

Conspicuous Leisure

“In order to gain and to hold the esteem of men it is not sufficient merely to possess wealth or power. The wealth or power must be put in evidence, for esteem is awarded only on evidence. And not only does the evidence of wealth serve to impress one’s importance on others and to keep their sense of his importance alive and alert, but it is scarcely less use in building up and preserving one’s self-complacency” (p. 24).

Q. As important as this concept is for the leisure class, do we really believe that this idea is important for the majority of individuals who are only trying to prosper and get ahead in life through their quest in obtaining wealth and power? We all strive to gain at least a decent level of wealth to survive. However, should we truly try to accomplish this to gain the respect from others or to preserve our own self-satisfaction? Or Both?

Conspicuous Consumption

“Throughout the entire evolution of conspicuous expenditure, whether of goods or of services or human life, runs the obvious implication that in order to effectually mend the consumer’s good fame it must be an expenditure of superfluities. In order to be reputable it must be wasteful” (p.60).

Q. During this modern time, do professional athletes, actresses, actors, entertainers, or musicians enact this concept through the spending of goods and services? Or do they want to consume their good fame merely through their career fields? Or can they do both?