3min chapter

The Gray Area with Sean Illing cover image

How Whole Foods, yoga, and NPR became the hallmarks of the elite

The Gray Area with Sean Illing

CHAPTER

The Importance of Leisure in the Modern World

The rich, the upper class wanted to project that they were not working hard. Veblen goods are goods that their fundamental value is in that they project your status out into the world by virtue of their assumed price or scarcity. But so something like a fancy suit would be a Veblen good in this respect. It's maybe even because it is so nice, you really can't get anything on it. The capitalism and particularly the Industrial Revolution created a middle class which could define their social position through economic means. And that did in fact involve work.

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