The Theory of the Leisure Class (Penguin Classics) (Paperback)

by Thorstein Veblen (Author), Robert Lekachman (Introduction)

Editorial Reviews

Product Description
This classic of economic thought is a scathing critique of American snobbery and wastefulness. Chief among the practices that Veblen so wittily satirizes is 'conspicuous consumption', a pattern of behaviour that still flourishes among us.

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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." --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Paperback: 416 pages
• Publisher: Penguin Classics (February 1, 1994)
• Language: English
• ISBN-10: 0140187952
• ISBN-13: 978-0140187953
• Product Dimensions: 7.5 x 5.1 x 1 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars See all reviews (17 customer reviews)
• Amazon.com Sales Rank: #77,055 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

46 of 48 people found the following review helpful:

5.0 out of 5 stars Is economics allowed to be this much fun?, December 24, 1998

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.

44 of 52 people found the following review helpful:

5.0 out of 5 stars VERY FRESH 100 YEARS OLD BOOK, June 26, 2002

By	Luciano Lupini (Caracas Venezuela) - See all my reviews (REAL NAME)

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.

24 of 29 people found the following review helpful:

4.0 out of 5 stars Leisure as Disease, December 8, 2001

By	Tanja Laden (Los Angeles, CA USA) - See all my reviews (REAL NAME)

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.