Elizabeth McKenzie: The Portable Veblen

In 'The Theory of the Leisure Class', Thorstein Veblen presents a critical analysis of the social and economic behaviors of the upper class, arguing that economic life is driven by social vestiges from pre-historic times rather than by notions of utility. Veblen introduces concepts such as 'conspicuous consumption', 'pecuniary superiority', and 'vicarious leisure', highlighting how the leisure class demonstrates its economic superiority through non-productive activities and the display of wealth. The book challenges contemporary economic theories by emphasizing the role of social and cultural factors in shaping economic behaviors and critiques the wasteful and exploitative nature of the leisure class's activities.

The story follows John T. Unger, a young man from a middle-class town, who attends an exclusive preparatory school where he befriends Percy Washington. Percy invites John to spend the summer at his family's estate in Montana, where John learns about the family's extraordinary wealth and their secret: a diamond as big as the Ritz-Carlton Hotel. The Washingtons have maintained this secret through various means, including enslaving descendants of slaves who believe the Civil War never ended. However, with the advent of airplanes, their secrecy is threatened, leading to a dramatic confrontation and the eventual destruction of their estate. The story explores themes of wealth, greed, and the illusions of the wealthy elite.