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  • A standard of living is of the nature of habit. ...it acts almost solely to prevent recession from a scale of conspicuous expenditure that has once become habitual.

    Thorstein Veblen
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    Thorstein Veblen (2016). “THE THEORY OF THE LEISURE CLASS: An Economic Study of American Institutions and a Social Critique of Conspicuous Consumption: Development of Institutions That Shape Society and Influence the Livelihood of Citizens: Based on Sociological & Economical Theories of Charles Darwin, Karl Marx, Adam Smith and Herbert Spencer”, p.68, e-artnow
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A standard of living is of the nature of habit. ...it acts almost solely to prevent recession from a scale of conspicuous expenditure that has once become habitual. - Thorstein Veblen
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