The Theory of the Leisure Class

Thorstein Veblen 1857 – 1929 – an American economist, sociologist, and publicist, Ph.D., taught at Cornell, Chicago, and Stanford universities. The Theory of the Leisure Class is Veblen's seminal work. The main material for the research is drawn from the reality of that time – the era of slums and palaces in Chicago. In this book, the author introduces the concept of the leisure class for the first time, which is characterized by the demonstration of its abilities and high status in the hierarchy. Veblen called this demonstrative leisure and demonstrative consumption, when a person strives not so much for economic as for social benefit, acquiring not practical but status items.