Quote by Joseph Schumpeter

The evolution of the capitalist style of life could be easily -- and perhaps most tellingly -- described in terms of the genesis of the modern Lounge Suit.

The evolution of the capitalist style of life could be easil

Summary

This quote suggests that the development of modern capitalism can be understood through the evolution of the lounge suit, a form of formal attire. The lounge suit is seen as a symbol of the capitalist lifestyle, indicating the upward social mobility and desire for conformity. By analyzing the changes in the style and popularity of the lounge suit over time, one can gain insights into the progression and values of capitalist societies. The quote implies that seemingly mundane aspects of our lives, such as fashion, can reflect deeper social and economic transformations.

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By Joseph Schumpeter

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