The Theory of the Leisure Class: An Economic Study of Institutions

What is “decent” consumption and how does it differ from conspicuous consumption? How does decent consumption impact a person’s economic decisions?

Veblen refers to the American Civil War as a force that promoted a trend toward conservatism in the South. What are Veblen’s views on American slavery and emancipation? How does he relate slavery to the culture of conspicuous consumption?

To what extent is the leisure class’s standard of living defined by conspicuous consumption? What happens when a member of the leisure class engages in industrial activity that does not uphold the standard of pecuniary culture?

How does Veblen define wastefulness? In his terminology, is wastefulness necessary and beneficial to society as a whole? Support your answer with citations from the text.

How does Veblen’s theory of the leisure class relate to Marxism? In what ways it is similar, and in what ways is it different? Cite examples from Marx’s Capital: A Critique of Political Economy (1864) in your response.

Discuss Veblen’s view on charity in a capitalist society. Why is donating to charity often times not an example of non-invidious interest?

Veblen believes that the leisure class has a general tendency toward conservatism. How is this related to pecuniary culture, leisure, and conspicuous consumption?

How does pecuniary culture affect people’s economic behavior in “earlier” periods of social development? How is this similar or different compared to the modern industrial era?