expression, which are aided by the pointed suggestions afforded
by a current accredited scheme of life, and for the exercise of
which the material means and opportunities are readily available
-- these will especially have much to say in shaping the form and
direction in which the new accession to the individual's
aggregate force will assert itself. That is to say, in concrete
terms, in any community where conspicuous consumption is an
element of the scheme of life, an increase in an individual's
ability to pay is likely to take the form of an expenditure for
some accredited line of conspicuous consumption.

With the exception of the instinct of self-preservation, the
propensity for emulation is probably the strongest and most alert
and persistent of the economic motives proper. In an industrial
community this propensity for emulation expresses itself in
pecuniary emulation; and this, so far as regards the Western
civilized communities of the present, is virtually equivalent to
saying that it expresses itself in some form of conspicuous
waste. The need of conspicuous waste, therefore, stands ready to
absorb any increase in the community's industrial efficiency or
output of goods, after the most elementary physical wants have
been provided for. Where this result does not follow, under
modern conditions, the reason for the discrepancy is commonly to
be sought in a rate of increase in the individual's wealth too
rapid for the habit of expenditure to keep abreast of it; or it
may be that the individual in question defers the conspicuous
consumption of the increment to a later date -- ordinarily with a
view to heightening the spectacular effect of the aggregate
expenditure contemplated. As increased industrial efficiency
makes it possible to procure the means of livelihood with less