Quotulatiousness

January 31, 2023

“Thorstein Veblen’s famous ‘leisure class’ has evolved into the ‘luxury belief class'”

Filed under: Economics, Education, USA — Tags: , , , , , , — Nicholas @ 03:00

Rob Henderson had a particularly difficult childhood, but thanks to his own efforts ended up going to Yale after leaving the military. He discovered a very different world when he began his studies:

I was bewildered when I encountered a new social class at Yale four years ago: the luxury belief class. My confusion wasn’t surprising given my unusual background. When I was three years old, my mother was addicted to drugs and my father abandoned us. I grew up in multiple foster homes, was then adopted into a series of broken homes, and then experienced a series of family tragedies. Later, after a few years in the military, I went to Yale on the GI Bill. On campus, I realized that luxury beliefs have become fashionable status symbols. Luxury beliefs are ideas and opinions that confer status on the rich at very little cost, while taking a toll on the lower class.

In the past, people displayed their membership in the upper class with their material accoutrements. But today, luxury goods are more affordable than before. And people are less likely to receive validation for the material items they display. This is a problem for the affluent, who still want to broadcast their high social position. But they have come up with a clever solution. The affluent have decoupled social status from goods, and re-attached it to beliefs.

[…]

You might think that rich students at elite universities would be happy because they are in the top 1% of income earners. But remember, they’re surrounded by other members of the 1%. Their social circle, their Dunbar number, consists of 150 baby millionaires. Jordan Peterson has discussed this phenomenon. Citing figures from his experience teaching at Harvard in the 1990s, Peterson noted that a substantial proportion of Ivy League graduates go on to obtain a net worth of a million dollars or more by age 40. And yet this isn’t enough for them. Not only do top university graduates want to be millionaires-in-the-making, they also want the image of moral righteousness. Elite graduates desire high status not only financially, but morally as well.

For our affluent social strivers, luxury beliefs offer them a new way to gain status.

Thorstein Veblen’s famous “leisure class” has evolved into the “luxury belief class”. Veblen, an economist and sociologist, made his observations about social class in the late nineteenth century. He compiled his observations in his classic work, The Theory of the Leisure Class. A key idea is that because we can’t be certain of the financial standing of other people, a good way to size up their means is to see whether they can afford to waste money on goods and leisure. This explains why status symbols are so often difficult to obtain and costly to purchase. These include goods such as delicate and restrictive clothing, like tuxedos and evening gowns, or expensive and time-consuming hobbies like golf or beagling. Such goods and leisurely activities could only be purchased or performed by those who did not live the life of a manual laborer and could spend time learning something with no practical utility. Veblen even goes so far as to say, “The chief use of servants is the evidence they afford of the master’s ability to pay.” For Veblen, butlers are status symbols, too.

Converging on these sociological observations, the biologist Amotz Zahavi proposed that animals evolve certain displays because they are so costly. The most famous example is the peacock’s tail. Only a healthy bird is capable of growing such plumage while managing to evade predators. This idea might extend to humans, too. More recently, the anthropologist and historian Jared Diamond has suggested that one reason why humans engage in displays such as drinking, smoking, drug use, and other physically costly behaviors, is because they serve as fitness indicators. The message is “I’m so healthy that I can afford to poison my body and continue to function.” Get hammered while playing a round of golf with your butler, and you will be the highest status person around.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Powered by WordPress