frugal, and induces the American millionaire to found colleges,
hospitals and museums. If the canon of conspicuous consumption
were not offset to a considerable extent by other features of
human nature, alien to it, any saving should logically be
impossible for a population situated as the artisan and laboring
classes of the cities are at present, however high their wages or
their income might be.

But there are other standards of repute and other, more or less
imperative, canons of conduct, besides wealth and its
manifestation, and some of these come in to accentuate or to
qualify the broad, fundamental canon of conspicuous waste. Under
the simple test of effectiveness for advertising, we should
expect to find leisure and the conspicuous consumption of goods
dividing the field of pecuniary emulation pretty evenly between
them at the outset. Leisure might then be expected gradually to
yield ground and tend to obsolescence as the economic development
goes forward, and the community increases in size; while the
conspicuous consumption of goods should gradually gain in
importance, both absolutely and relatively, until it had absorbed
all the available product, leaving nothing over beyond a bare
livelihood. But the actual course of development has been
somewhat different from this ideal scheme. Leisure held the first
place at the start, and came to hold a rank very much above
wasteful consumption of goods, both as a direct exponent of
wealth and as an element in the standard of decency, during the
quasi-peaceable culture. From that point onward, consumption has
gained ground, until, at present, it unquestionably holds the
primacy, though it is still far from absorbing the entire margin
of production above the subsistence minimum.