The Theory of the Leisure Class (1899)

This is one of the most classic works on America told by a European observer. It is dense and wordy, as befits the time in which it was published. Interesting, if somewhat dated, though many of the ideas and observations are still eerily accurate. Don't try to read this on a train if the fellow behind you insists on playing his guitar; you won't be able to focus, and this book requires a good level of attention. ( )

Being European and therefore inclined to laziness, I returned from my holiday to home and office with the certainty that I was ready to join the ranks of the leisure class. Idleness is the parent of vice, but the occasional book review here would keep me sufficiently occupied.

I am afraid Mr. Veblen’s book did not really bring me the theory that I was looking for. In pompous language, Mr. Veblen basically declares that all man is ever interested in is showing off his status vis-à-vis his fellow creatures. He/she does so by as much conspicuous consumption as he/she can possibly afford. And this does not require the use of a credit card: housekeeping, pets, sports, banking, management, religion, and every other activity that is not about creating the bare necessities of late 1800’s life is considered “leisure”. Sometimes this leads to wonderful sweeping statements like this one:

The lawyer is exclusively occupied with the details of predatory fraud, either in achieving or in checkmating chicane, and success in the profession is therefore accepted as marking a large endowment of that barbarian astuteness which has always commanded men’s respect and fear.

But do Mr. Veblen’s extremely Puritanical theories make sense in the 21st century? Modern science confirms that people are very aware of their status relative to others, and are willing to spend hundreds of euros extra to show off a bag with the right label tagged to it. But the economy has grown increasingly complex, and few people will still accept Mr. Veblen’s definition of “leisure”. Nor does this book make sense as a study of happiness. Modern research shows that status is just one factor that defines happiness, including such things as a secure environment, a balanced distribution of income in a society, and a trade off between purchasing power and leave from work. Therefore I would recommend this book only to students of Mr. Veblen’s day and age. Others I would like to suggest Stefan Klein’s The Science of Happiness, which contains chapters on the effect of wealth and income distribution, substantiated by footnotes. ( )

I'm not versed in economic theory, so I was worried about making it through this one, but it ended up being extremely readable. It's a bit flat to read in long marathon sessions instead of a chapter here and there, but Veblen does a good job of balancing much needed explanation with more technical discussions of terminology and historical development. At times, there's some repetition, but for the most part it's necessary (at least for a layperson like myself). It's dry at times, but at other times it's a bit horrifying, especially when you realize that much of Veblen's discussion can apply to our society, despite the passage of time.

In the end, I do recommed this if you're interested in American History or the economic drives behind society and societal norms--at times, it really is frightening how on target Veblen's analysis seems in the connections he makes. ( )

Classic ( )