Theory Of The Leisure Class Summary

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THE THEROY OF THE LEISURE CLASS.
BY THORSTEIN VEBLEN.
Introduction.
A well-known early scholar in the field of economics and social science who sought to understand societal economic institutions and the system of operation using his knowledge as an economist and social scientist.Veblen sought to apply an evolutionary, approach to the study of economic institutions. With the theory of the leisure class describing the life of the wealthy, he coined phrases-conspicuous consumption and pecuniary emulation-that are still widely used, (Pierce, 2017, p.2).Veblen is an economic and social critique of the conspicuous consumption as a function of the social class which is a result of social stratification of people and the division of labor.That the …show more content…

He is challenged to study the modern economic life particularly the industrial system where he pointed, “ that it required men to be diligent, efficient and cooperative while those who ruled the business world were concerned with making money and displaying their wealth,”(Pierce,2017, p.3).The line of class division is clearly seen and this takes us a step back to critical sociological theory that seeks not only to understand or describe the world but also to use sociological knowledge to change and improve the world, to emancipate people from conditions of servitude,(Little,2014 ,p.28),and this agrees with the reading for this week about social …show more content…

The nobles share a common characteristic which Veblen called Non-industrial and that the manual labour, industry, whatever has to do directly with the everyday work of getting a livelihood, is the exclusive occupation of the inferior class and this inferior class includes slaves, and other dependents, and ordinarily also women,(Veblen,2013, p.1-2).This is a true picture of what is happening in our societies today were the production of goods and services is solely carried out by the lower class and this agrees with the words of sociologist Karl Marx critical theory , “the capitalists who owned the factories and means of production were in the sense parasitic on workers’ labour and the injustice of the system was palpable,”(Little, 2014,p.13).This is the language today in our society because one’s class in society is determined by what he possesses.Veblen states categorically the differences in the employment performed by the two classes of people and that upper-class employment

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