“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, book The Theory of the Leisure Class

Source: The Theory of the Leisure Class (1899), p. 106

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Thorstein Veblen41

American academic 1857–1929

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Thorstein Veblen book The Theory of the Leisure Class

Source: The Theory of the Leisure Class (1899), p. 102

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