Summary of Theory of the Leisure Class

"The Theory of the Leisure Class" is a book written by American economist and sociologist Thorstein Veblen in 1899. In this book, Veblen examines the concept of conspicuous consumption and the role of the leisure class in society. He argues that the wealthy elite engage in wasteful and non-productive activities as a way to signal their social status and superiority to others. Veblen also discusses the idea of pecuniary emulation, where individuals strive to mimic the consumption habits of the upper class in order to gain social acceptance and recognition. Overall, the book critiques the conspicuous consumption and social stratification that exists within modern capitalist societies.