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What Is The Leisure Class

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Over the few centuries Capitalism has been the dominant economic system adopted by countries of the Western world, there have been many theories that have attempted to speculate what the most powerful agent in a Capitalist system is. Unlike most economic thinkers in the early 20th century, Thorstein Bunde Veblen argued that the driving force of capitalism was not that of the desire to gain capital, but rather, the sociological aspects of emulative consumption. In regards to classes, he hypothesized that a group he coined to be “the Leisure Class”, substantiated his theory of emulative consumption. Indeed, Veblen believed the leisure class was far more important to a capitalist system than either the bourgeoisie or the proletariat. In this way, …show more content…

As the word emulative would suggest, the theory speculates that people of the same class, particularly the leisure class, accumulate goods to set themselves apart from others. The reason they do this is to display power, superiority, and a willingness to compete. Veblen claims that reason as to why the leisure class wants to display these things is as simple as the fact that “its extremely gratifying to possess something more than others.” (28). Unfortunately though, emulative consumption would inevitably become a continuous cycle that keeps the capitalist system alive. According to him, this is …show more content…

The observance of these standards, in some degree of approximation, becomes incumbent upon all classes lower in the scale. In modern civilized communities the lines of demarcation between social classes have grown vague and transient, and wherever this happens the norm of reputability imposed by the upper class extends its coercive influence with but slight hindrance down through the social structure to the lowest strata. (76)
As such, the result is that the members of every class spend their energies striving to meet an ideal. Then inevitably, they choose the option of taking part in emulative consumption in order to maintain their good name, as failing to participate will result in them falling behind. In conclusion, the leisure class sets the norm for all other classes and that is part of their power in capitalism and

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