Quote by Thorstein Veblen

The basis on which good repute in any highly organized industrial community ultimately rests is pecuniary strength and the means of showing pecuniary strength, and so of gaining or retaining a good name, are leisure and a conspicuous consumption of goods.

The basis on which good repute in any highly organized indus

Summary

This quote suggests that in a modern industrial society, one's reputation and social standing are primarily dependent on financial success and the ability to demonstrate it through leisure activities and conspicuous consumption. In such a community, having wealth and displaying it through the consumption of goods are seen as indicators of a good reputation and social status. This implies that economic strength and material wealth play a crucial role in determining one's standing and perceived value within society.

By Thorstein Veblen

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