Therevulsionfeltbygoodpeopleatanyproposeddeparturefromtheacceptedmethodsoflifeisafamiliarfactofeverydayexperience。Itisnotunusualtohearthosepersonswhodispensesalutaryadviceandadmonitiontothecommunityexpressthemselvesforciblyuponthefar-reachingperniciouseffectswhichthecommunitywouldsufferfromsuchrelativelyslightchangesasthedisestablishmentoftheAnglicanChurch，anincreasedfacilityofdivorce，adoptionoffemalesuffrage，prohibitionofthemanufactureandsaleofintoxicatingbeverages，abolitionorrestrictionofinheritances，etc。Anyoneoftheseinnovationswould，wearetold，“shakethesocialstructuretoitsbase，““reducesocietytochaos，““subvertthefoundationsofmorality，““makelifeintolerable，““confoundtheorderofnature，“etc。Thesevariouslocutionsare，nodoubt，ofthenatureofhyperbole；but，atthesametime，likealloverstatement，theyareevidenceofalivelysenseofthegravityoftheconsequenceswhichtheyareintendedtodescribe。Theeffectoftheseandlikeinnovationsinderangingtheacceptedschemeoflifeisfelttobeofmuchgraverconsequencethanthesimplealterationofanisolatediteminaseriesofcontrivancesfortheconvenienceofmeninsociety。Whatistrueinsoobviousadegreeofinnovationsoffirst-rateimportanceistrueinalessdegreeofchangesofasmallerimmediateimportance。Theaversiontochangeisinlargepartanaversiontothebotherofmakingthereadjustmentwhichanygivenchangewillnecessitate；
　　andthissolidarityofthesystemofinstitutionsofanygivencultureorofanygivenpeoplestrengthenstheinstinctiveresistanceofferedtoanychangeinmen’shabitsofthought，eveninmatterswhich，takenbythemselves，areofminorimportance。
　　Aconsequenceofthisincreasedreluctance，duetothesolidarityofhumaninstitutions，isthatanyinnovationcallsforagreaterexpenditureofnervousenergyinmakingthenecessaryreadjustmentthanwouldotherwisebethecase。Itisnotonlythatachangeinestablishedhabitsofthoughtisdistasteful。Theprocessofreadjustmentoftheacceptedtheoryoflifeinvolvesadegreeofmentaleffort——amoreorlessprotractedandlaboriousefforttofindandtokeepone’sbearingsunderthealteredcircumstances。Thisprocessrequiresacertainexpenditureofenergy，andsopresumes，foritssuccessfulaccomplishment，somesurplusofenergybeyondthatabsorbedinthedailystruggleforsubsistence。Consequentlyitfollowsthatprogressishinderedbyunderfeedingandexcessivephysicalhardship，nolesseffectuallythanbysuchaluxuriouslifeaswillshutoutdiscontentbycuttingofftheoccasionforit。Theabjectlypoor，andallthosepersonswhoseenergiesareentirelyabsorbedbythestrugglefordailysustenance，areconservativebecausetheycannotaffordtheeffortoftakingthoughtforthedayaftertomorrow；justasthehighlyprosperousareconservativebecausetheyhavesmalloccasiontobediscontentedwiththesituationasitstandstoday。
　　Fromthispropositionitfollowsthattheinstitutionofaleisureclassactstomakethelowerclassesconservativebywithdrawingfromthemasmuchasitmayofthemeansofsustenance，andsoreducingtheirconsumption，andconsequentlytheiravailableenergy，tosuchapointastomakethemincapableoftheeffortrequiredforthelearningandadoptionofnewhabitsofthought。Theaccumulationofwealthattheupperendofthepecuniaryscaleimpliesprivationatthelowerendofthescale。Itisacommonplacethat，whereveritoccurs，aconsiderabledegreeofprivationamongthebodyofthepeopleisaseriousobstacletoanyinnovation。
　　Thisdirectinhibitoryeffectoftheunequaldistributionofwealthissecondedbyanindirecteffecttendingtothesameresult。Ashasalreadybeenseen，theimperativeexamplesetbytheupperclassinfixingthecanonsofreputabilityfostersthepracticeofconspicuousconsumption。Theprevalenceofconspicuousconsumptionasoneofthemainelementsinthestandardofdecencyamongallclassesisofcoursenottraceablewhollytotheexampleofthewealthyleisureclass，butthepracticeandtheinsistenceonitarenodoubtstrengthenedbytheexampleoftheleisureclass。Therequirementsofdecencyinthismatterareveryconsiderableandveryimperative；sothatevenamongclasseswhosepecuniarypositionissufficientlystrongtoadmitaconsumptionofgoodsconsiderablyinexcessofthesubsistenceminimum，thedisposablesurplusleftoverafterthemoreimperativephysicalneedsaresatisfiedisnotinfrequentlydivertedtothepurposeofaconspicuousdecency，ratherthantoaddedphysicalcomfortandfullnessoflife。
　　Moreover，suchsurplusenergyasisavailableisalsolikelytobeexpendedintheacquisitionofgoodsforconspicuousconsumptionorconspicuousboarding。Theresultisthattherequirementsofpecuniaryreputabilitytend1toleavebutascantysubsistenceminimumavailableforotherthanconspicuousconsumption，and2toabsorbanysurplusenergywhichmaybeavailableafterthebarephysicalnecessitiesoflifehavebeenprovidedfor。Theoutcomeofthewholeisastrengtheningofthegeneralconservativeattitudeofthecommunity。Theinstitutionofaleisureclasshindersculturaldevelopmentimmediately1
　　bytheinertiapropertotheclassitself，2throughitsprescriptiveexampleofconspicuouswasteandofconservatism，and3indirectlythroughthatsystemofunequaldistributionofwealthandsustenanceonwhichtheinstitutionitselfrests。
　　Tothisistobeaddedthattheleisureclasshasalsoamaterialinterestinleavingthingsastheyare。Underthecircumstancesprevailingatanygiventimethisclassisinaprivilegedposition，andanydeparturefromtheexistingordermaybeexpectedtoworktothedetrimentoftheclassratherthanthereverse。Theattitudeoftheclass，simplyasinfluencedbyitsclassinterest，shouldthereforebetoletwell-enoughalone。
　　Thisinterestedmotivecomesintosupplementthestronginstinctivebiasoftheclass，andsotorenderitevenmoreconsistentlyconservativethanitotherwisewouldbe。
　　Allthis，ofcourse，basnothingtosayinthewayofeulogyordeprecationoftheofficeoftheleisureclassasanexponentandvehicleofconservatismorreversioninsocialstructure。Theinhibitionwhichitexercisesmaybesalutaryorthereverse。
　　Wetheritistheoneortheotherinanygivencaseisaquestionofcasuistryratherthanofgeneraltheory。Theremaybetruthintheviewasaquestionofpolicysooftenexpressedbythespokesmenoftheconservativeelement，thatwithoutsomesuchsubstantialandconsistentresistancetoinnovationasisofferedbytheconservativewell-to-doclasses，socialinnovationandexperimentwouldhurrythecommunityintountenableandintolerablesituations；theonlypossibleresultofwhichwouldbediscontentanddisastrousreaction。Allthis，however，isbesidethepresentargument。
　　Butapartfromalldeprecation，andasidefromallquestionastotheindispensabilityofsomesuchcheckonheadlonginnovation，theleisureclass，inthenatureofthings，consistentlyactstoretardthatadjustmenttotheenvironmentwhichiscalledsocialadvanceordevelopment。Thecharacteristicattitudeoftheclassmaybesummedupinthemaxim:“Whateveris，isright“whereasthelawofnaturalselection，asappliedtohumaninstitutions，givestheaxiom:“Whateveris，iswrong。“Notthattheinstitutionsoftodayarewhollywrongforthepurposesofthelifeoftoday，buttheyare，alwaysandinthenatureofthings，wrongtosomeextent。Theyaretheresultofamoreorlessinadequateadjustmentofthemethodsoflivingtoasituationwhichprevailedatsomepointinthepastdevelopment；
　　andtheyarethereforewrongbysomethingmorethantheintervalwhichseparatesthepresentsituationfromthatofthepast。
　　“Right“and“wrong“areofcoursehereusedwithoutconveyinganyrejectionastowhatoughtoroughtnottobe。Theyareappliedsimplyfromthemorallycolorlessevolutionarystandpoint，andareintendedtodesignatecompatibilityorincompatibilitywiththeeffectiveevolutionaryprocess。Theinstitutionofaleisureclass，byforceorclassinterestandinstinct，andbypreceptandprescriptiveexample，makesfortheperpetuationoftheexistingmaladjustmentofinstitutions，andevenfavorsareversiontoasomewhatmorearchaicschemeoflife；aschemewhichwouldbestillfartheroutofadjustmentwiththeexigenciesoflifeundertheexistingsituationeventhantheaccredited，obsolescentschemethathascomedownfromtheimmediatepast。
　　Butafterallhasbeensaidontheheadofconservationofthegoodoldways，itremainstruethatinstitutionschangeanddevelop。Thereisacumulativegrowthofcustomsandhabitsofthought；aselectiveadaptationofconventionsandmethodsoflife。Somethingistobesaidoftheofficeoftheleisureclassinguidingthisgrowthaswellasinretardingit；butlittlecanbesaidhereofitsrelationtoinstitutionalgrowthexceptasittouchestheinstitutionsthatareprimarilyandimmediatelyofaneconomiccharacter。Theseinstitutions——theeconomicstructure——mayberoughlydistinguishedintotwoclassesorcategories，accordingastheyserveoneortheotheroftwodivergentpurposesofeconomiclife。
　　Toadapttheclassicalterminology，theyareinstitutionsofacquisitionorofproduction；ortoreverttotermsalreadyemployedinadifferentconnectioninearlierchapters，theyarepecuniaryorindustrialinstitutions；orinstillotherterms，theyareinstitutionsservingeithertheinvidiousorthenon-invidiouseconomicinterest。Theformercategoryhavetodowith“business，“thelatterwithindustry，takingthelatterwordinthemechanicalsense。Thelatterclassarenotoftenrecognizedasinstitutions，ingreatpartbecausetheydonotimmediatelyconcerntherulingclass，andare，therefore，seLdomthesubjectoflegislationorofdeliberateconvention。Whentheydoreceiveattentiontheyarecommonlyapproachedfromthepecuniaryorbusinessside；thatbeingthesideorphaseofeconomiclifethatchieflyoccupiesmen’sdeliberationsinourtime，especiallythedeliberationsoftheupperclasses。Theseclasseshavelittleelsethanabusinessinterestinthingseconomic，andonthematthesametimeitischieflyincumbenttodeliberateuponthecommunity’saffairs。
　　Therelationoftheleisurethatis，propertiednon-industrialclasstotheeconomicprocessisapecuniaryrelation——arelationofacquisition，notofproduction；ofexploitation，notofserviceability。indirectlytheireconomicofficemay，ofcourse，beoftheutmostimportancetotheeconomiclifeprocess；anditisbynomeanshereintendedtodepreciatetheeconomicfunctionofthepropertiedclassorofthecaptainsofindustry，Thepurposeissimplytopointoutwhatisthenatureoftherelationoftheseclassestotheindustrialprocessandtoeconomicinstitutions。Theirofficeisofaparasiticcharacter，andtheirinterestistodivertwhatsubstancetheymaytotheirownuse，andtoretainwhateverisundertheirhand。Theconventionsofthebusinessworldhavegrownupundertheselectivesurveillanceofthisprincipleofpredationorparasitism。Theyareconventionsofownership；
　　derivatives，moreorlessremote，oftheancientpredatoryculture。Butthesepecuniaryinstitutionsdonotentirelyfitthesituationoftoday，fortheyhavegrownupunderapastsituationdifferingsomewhatfromthepresent。Evenforeffectivenessinthepecuniaryway，therefore，theyarenotasaptasmightbe。
　　Thechangedindustrialliferequireschangedmethodsofacquisition；andthepecuniaryclasseshavesomeinterestinsoadaptingthepecuniaryinstitutionsastogivethemthebesteffectforacquisitionofprivategainthatiscompatiblewiththecontinuanceoftheindustrialprocessoutofwhichthisgainarises。Hencethereisamoreorlessconsistenttrendintheleisure-classguidanceofinstitutionalgrowth，answeringtothepecuniaryendswhichshapeleisure-classeconomiclife。
　　Theeffectofthepecuniaryinterestandthepecuniaryhabitofminduponthegrowthofinstitutionsisseeninthoseenactmentsandconventionsthatmakeforsecurityofproperty，enforcementofcontracts，facilityofpecuniarytransactions，vestedinterests。Ofsuchbearingarechangesaffectingbankruptcyandreceiverships，limitedliability，bankingandcurrency，coalitionsoflaborersoremployers，trustsandpools。
　　Thecommunity’sinstitutionalfurnitureofthiskindisofimmediateconsequenceonlytothepropertiedclasses，andinproportionastheyarepropertied；thatistosay，inproportionastheyaretoberankedwiththeleisureclass。Butindirectlytheseconventionsofbusinesslifeareofthegravestconsequencefortheindustrialprocessandforthelifeofthecommunity。Andinguidingtheinstitutionalgrowthinthisrespect，thepecuniaryclasses，therefore，serveapurposeofthemostseriousimportancetothecommunity，notonlyintheconservationoftheacceptedsocialscheme，butalsoinshapingtheindustrialprocessproper。Theimmediateendofthispecuniaryinstitutionalstructureandofitsameliorationisthegreaterfacilityofpeaceableandorderlyexploitation；butitsremotereffectsfaroutrunthisimmediateobject。Notonlydoesthemorefacileconductofbusinesspermitindustryandextra-industriallifetogoonwithlessperturbation；buttheresultingeliminationofdisturbancesandcomplicationscallingforanexerciseofastutediscriminationineverydayaffairsactstomakethepecuniaryclassitselfsuperfluous。Asfastaspecuniarytransactionsarereducedtoroutine，thecaptainofindustrycanbedispensedwith。Thisconsummation，itisneedlesstosay，liesyetintheindefinitefuture。Theameliorationswroughtinfavorofthepecuniaryinterestinmoderninstitutionstend，inanotherfield，tosubstitutethe“soulless“joint-stockcorporationforthecaptain，andsotheymakealsoforthedispensability，ofthegreatleisure-classfunctionofownership。Indirectly，therefore，thebentgiventothegrowthofeconomicinstitutionsbytheleisure-classinfluenceisofveryconsiderableindustrialconsequence。