UnThreaded | Threaded | Whole Thread (84) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 886575  
Subject: Re: 2% pay cut Date: 1/18/2013 2:41 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
<<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 fashionable class of such parasites usually makes war on the lifestyle of the working class in the name of global warming, they do nothing to curb their own consumption of "travel" on eco vacations or whatever around the world.

And of course travel lends itself nicely to conspicuous consumption. Explaining your travels about the water cooler is one of the privileges of such behavior, and the leisure class in the audience can be depended upon to "ooh and ahh" about travel as a precursor to explaining ones own next trip.

Of course our leisure class today will protect it's fashionable habit of "travel" from any challenges.


Seattle Pioneer
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (84) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement