Rob Henderson wrote an article for Quillette titled Thorstein Veblen’s Theory of the Leisure Class—A Status Update.

« Luxury beliefs are ideas and opinions that confer status on the rich at very little cost, while taking a toll on the lower class. »

« Not only do top university graduates want to be millionaires-in-the-making; they also want the image of moral righteousness. »

« Thorstein Veblen’s famous “leisure class” has evolved into the “luxury belief class.” Veblen, an economist and sociologist, made his observations about social class in the late nineteenth century. He compiled his observations in his classic work, The Theory of the Leisure Class. A key idea is that because we can’t be certain of the financial standing of other people, a good way to size up their means is to see whether they can afford to waste money on goods and leisure. This explains why status symbols are so often difficult to obtain and costly to purchase.  »

« Conspicuous ConvictionsAffluent people promote open borders or the decriminalization of drugs because it advances their social standing, not least because they know that the adoption of those policies will cost them less than others. The logic is akin to conspicuous consumption—if you’re a student who has a large subsidy from your parents and I do not, you can afford to waste $900 and I can’t, so wearing a Canada Goose jacket is a good way of advertising your superior wealth and status. Proposing policies that will cost you as a member of the upper class less than they would cost me serve the same function.  »

« Over time, luxury beliefs are embraced down the social ladder—at which point, the upper class abandons its old luxury beliefs and embraces new ones. Which explains why the beliefs of the upper class are constantly changing. »

« The economist and social theorist Thomas Sowell once said that activism is “a way for useless people to feel important, even if the consequences of their activism are counterproductive for those they claim to be helping and damaging to the fabric of society as a whole.” The same could be said for luxury beliefs. »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s