In itself and in its consequences the life of leisure is beautiful and ennobling in all civilised men's eyes. - Thorstein Veblen

The periodical press is not only a purveyor of news, opinions, and admonitions; it also supplies the greater part of the literature currently read. ...The standards of excellence that govern this periodical literature... must in no way hamper the purposes of the advertisers. ...Taken in the aggregate, the literary output is designed to meet the tastes of that large body of people who are in the habit of buying freely. The successful magazine writers... follow the taste of the class to whom they speak... They must also conform to the fancies and prejudices of this class as regards the ideals—artistic, moral, religious, or social—for which they speak. The class... is that great body of people who are in moderately easy circumstances... the respectable middle class... of various shades of conservatism, affectation, and snobbery.

However widely, or equally, or "fairly", it may be distributed, no general increase of the community's wealth can make any approach to satiating this need, the ground of which is the desire of every one to excel every one else in the accumulation of goods.

Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.