The Theory of the Leisure Class

"The Theory of the Leisure Class" is a groundbreaking work written by Thorstein Veblen, an American economist and sociologist. The book was first published in 1899 and is considered one of the foundational texts in the field of sociology and economic theory. Veblen's central thesis in "The Theory of the Leisure Class" revolves around the concept of conspicuous consumption and the social stratification of society. He explores the idea that individuals in a society engage in certain behaviors and consumption patterns not solely for practical purposes but also to display their social standing and wealth. The term "conspicuous consumption" refers to the acquisition and display of goods and services primarily for the purpose of signaling one's status to others. One of Veblen's key concepts is the distinction between the "leisure class" and the "industrial class." The leisure class, according to Veblen, consists of individuals who derive their wealth from inherited sources rather than produc