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Personal Finances / Living Below Your Means


Subject:  Re: 2% pay cut Date:  1/18/2013  2:41 PM
Author:  SeattlePioneer Number:  870654 of 890174

<<Veblen is famous in the history of economic thought for combining a Darwinian evolutionary perspective with his new institutionalist approach to economic analysis. He combined sociology with economics in his masterpiece The Theory of the Leisure Class (1899) where he argued that there was a basic distinction between the productiveness of "industry", run by engineers manufacturing goods, vis-a-vis the parasitism of "business" that exists only to make profits for a leisure class. The chief activity of the leisure class was "conspicuous consumption", and their economic contribution is "waste," activity that contributes nothing to productivity.>>

Were Thorsten Veblen writing today, I don't doubt that he would identify mindless "travel" about the earth in jet transports one of the new forms of parasitism and waste with which this society is afflicted.

While the fash