Anditisevenmoretothepointthatpropertynowbecomesthemosteasilyrecognisedevidenceofareputabledegreeofsuccessasdistinguishedfromheroicorsignalachievement。Itthereforebecomestheconventionalbasisofesteem。Itspossessioninsomeamountbecomesnecessaryinordertoanyreputablestandinginthecommunity。Itbecomesindispensabletoaccumulate，toacquireproperty，inordertoretainone’sgoodname。Whenaccumulatedgoodshaveinthiswayoncebecometheacceptedbadgeofefficiency，thepossessionofwealthpresentlyassumesthecharacterofanindependentanddefinitivebasisofesteem。Thepossessionofgoods，whetheracquiredaggressivelybyone’sownexertionorpassivelybytransmissionthroughinheritancefromothers，becomesaconventionalbasisofreputability。Thepossessionofwealth，whichwasattheoutsetvaluedsimplyasanevidenceofefficiency，becomes，inpopularapprehension，itselfameritoriousact。Wealthisnowitselfintrinsicallyhonourableandconfershonouronitspossessor。Byafurtherrefinement，wealthacquiredpassivelybytransmissionfromancestorsorotherantecedentspresentlybecomesevenmorehonorificthanwealthacquiredbythepossessor’sowneffort；butthisdistinctionbelongsatalaterstageintheevolutionofthepecuniarycultureandwillbespokenofinitsplace。
Prowessandexploitmaystillremainthebasisofawardofthehighestpopularesteem，althoughthepossessionofwealthhasbecomethebasisofcommonplacereputabilityandofablamelesssocialstanding。Thepredatoryinstinctandtheconsequentapprobationofpredatoryefficiencyaredeeplyingrainedinthehabitsofthoughtofthosepeopleswhohavepassedunderthedisciplineofaprotractedpredatoryculture。Accordingtopopularaward，thehighesthonourswithinhumanreachmay，evenyet，bethosegainedbyanunfoldingofextraordinarypredatoryefficiencyinwar，orbyaquasi-predatoryefficiencyinstatecraft；butforthepurposesofacommonplacedecentstandinginthecommunitythesemeansofreputehavebeenreplacedbytheacquisitionandaccumulationofgoods。Inordertostandwellintheeyesofthecommunity，itisnecessarytocomeuptoacertain，somewhatindefinite，conventionalstandardofwealth；
justasintheearlierpredatorystageitisnecessaryforthebarbarianmantocomeuptothetribe’sstandardofphysicalendurance，cunning，andskillatarms。Acertainstandardofwealthintheonecase，andofprowessintheother，isanecessaryconditionofreputability，andanythinginexcessofthisnormalamountismeritorious。
Thosemembersofthecommunitywhofallshortofthis，somewhatindefinite，normaldegreeofprowessorofpropertysufferintheesteemoftheirfellow-men；andconsequentlytheysufferalsointheirownesteem，sincetheusualbasisofself-respectistherespectaccordedbyone’sneighbours。Onlyindividualswithanaberranttemperamentcaninthelongrunretaintheirself-esteeminthefaceofthedisesteemoftheirfellows。Apparentexceptionstotherulearemetwith，especiallyamongpeoplewithstrongreligiousconvictions。Buttheseapparentexceptionsarescarcelyrealexceptions，sincesuchpersonscommonlyfallbackontheputativeapprobationofsomesupernaturalwitnessoftheirdeeds。
Sosoonasthepossessionofpropertybecomesthebasisofpopularesteem，therefore，itbecomesalsoarequisitetothecomplacencywhichwecallself-respect。Inanycommunitywheregoodsareheldinseveraltyitisnecessary，inordertohisownpeaceofmind，thatanindividualshouldpossessaslargeaportionofgoodsasotherswithwhomheisaccustomedtoclasshimself；anditisextremelygratifyingtopossesssomethingmorethanothers。Butasfastasapersonmakesnewacquisitions，andbecomesaccustomedtotheresultingnewstandardofwealth，thenewstandardforthwithceasestoaffordappreciablygreatersatisfactionthantheearlierstandarddid。Thetendencyinanycaseisconstantlytomakethepresentpecuniarystandardthepointofdepartureforafreshincreaseofwealth；andthisinturngivesrisetoanewstandardofsufficiencyandanewpecuniaryclassificationofone’sselfascomparedwithone’sneighbours。Sofarasconcernsthepresentquestion，theendsoughtbyaccumulationistorankhighincomparisonwiththerestofthecommunityinpointofpecuniarystrength。Solongasthecomparisonisdistinctlyunfavourabletohimself，thenormal，averageindividualwillliveinchronicdissatisfactionwithhispresentlot；andwhenhehasreachedwhatmaybecalledthenormalpecuniarystandardofthecommunity，orofhisclassinthecommunity，thischronicdissatisfactionwillgiveplacetoarestlessstrainingtoplaceawiderandever-wideningpecuniaryintervalbetweenhimselfandthisaveragestandard。Theinvidiouscomparisoncanneverbecomesofavourabletotheindividualmakingitthathewouldnotgladlyratehimselfstillhigherrelativelytohiscompetitorsinthestruggleforpecuniaryreputability。
Inthenatureofthecase，thedesireforwealthcanscarcelybesatiatedinanyindividualinstance，andevidentlyasatiationoftheaverageorgeneraldesireforwealthisoutofthequestion。Howeverwidely，orequally，or“fairly“，itmaybedistributed，nogeneralincreaseofthecommunity’swealthcanmakeanyapproachtosatiatingthisneed，thegroundofwhichapproachtosatiatingthisneed，thegroundofwhichisthedesireofeveryonetoexceleveryoneelseintheaccumulationofgoods。If，asissometimesassumed，theincentivetoaccumulationwerethewantofsubsistenceorofphysicalcomfort，thentheaggregateeconomicwantsofacommunitymightconceivablybesatisfiedatsomepointintheadvanceofindustrialefficiency；butsincethestruggleissubstantiallyaraceforreputabilityonthebasisofaninvidiouscomparison，noapproachtoadefinitiveattainmentispossible。
Whathasjustbeensaidmustnotbetakentomeanthattherearenootherincentivestoacquisitionandaccumulationthanthisdesiretoexcelinpecuniarystandingandsogaintheesteemandenvyofone’sfellow-men。Thedesireforaddedcomfortandsecurityfromwantispresentasamotiveateverystageoftheprocessofaccumulationinamodernindustrialcommunity；
althoughthestandardofsufficiencyintheserespectsisinturngreatlyaffectedbythehabitofpecuniaryemulation。Toagreatextentthisemulationshapesthemethodsandselectstheobjectsofexpenditureforpersonalcomfortanddecentlivelihood。
Besidesthis，thepowerconferredbywealthalsoaffordsamotivetoaccumulation。Thatpropensityforpurposefulactivityandthatrepugnancetoallfutilityofeffortwhichbelongtomanbyvirtueofhischaracterasanagentdonotdeserthimwhenheemergesfromthenaivecommunalculturewherethedominantnoteoflifeistheunanalysedandundifferentiatedsolidarityoftheindividualwiththegroupwithwhichhislifeisboundup。Whenheentersuponthepredatorystage，whereself-seekinginthenarrowersensebecomesthedominantnote，thispropensitygoeswithhimstill，asthepervasivetraitthatshapeshisschemeoflife。Thepropensityforachievementandtherepugnancetofutilityremaintheunderlyingeconomicmotive。Thepropensitychangesonlyintheformofitsexpressionandintheproximateobjectstowhichitdirectstheman’sactivity。Undertheregimeofindividualownershipthemostavailablemeansofvisiblyachievingapurposeisthataffordedbytheacquisitionandaccumulationofgoods；andastheself-regardingantithesisbetweenmanandmanreachesfullerconsciousness，thepropensityforachievement——theinstinctofworkmanship——tendsmoreandmoretoshapeitselfintoastrainingtoexcelothersinpecuniaryachievement。Relativesuccess，testedbyaninvidiouspecuniarycomparisonwithothermen，becomestheconventionalendofaction。Thecurrentlyacceptedlegitimateendofeffortbecomestheachievementofafavourablecomparisonwithothermen；andthereforetherepugnancetofutilitytoagoodextentcoalesceswiththeincentiveofemulation。Itactstoaccentuatethestruggleforpecuniaryreputabilitybyvisitingwithasharperdisapprovalallshortcomingandallevidenceofshortcominginpointofpecuniarysuccess。Purposefuleffortcomestomean，primarily，effortdirectedtoorresultinginamorecreditableshowingofaccumulatedwealth。Amongthemotiveswhichleadmentoaccumulatewealth，theprimacy，bothinscopeandintensity，therefore，continuestobelongtothismotiveofpecuniaryemulation。
Inmakinguseoftheterm“invidious“，itmayperhapsbeunnecessarytoremark，thereisnointentiontoextolordepreciate，ortocommendordeploreanyofthephenomenawhichthewordisusedtocharacterise。Thetermisusedinatechnicalsenseasdescribingacomparisonofpersonswithaviewtoratingandgradingtheminrespectofrelativeworthorvalue——inanaestheticormoralsense——andsoawardinganddefiningtherelativedegreesofcomplacencywithwhichtheymaylegitimatelybecontemplatedbythemselvesandbyothers。Aninvidiouscomparisonisaprocessofvaluationofpersonsinrespectofworth。
ConspicuousLeisureIfitsworkingwerenotdisturbedbyothereconomicforcesorotherfeaturesoftheemulativeprocess，theimmediateeffectofsuchapecuniarystruggleashasjustbeendescribedinoutlinewouldbetomakemenindustriousandfrugal。Thisresultactuallyfollows，insomemeasure，sofarasregardsthelowerclasses，whoseordinarymeansofacquiringgoodsisproductivelabour。Thisismoreespeciallytrueofthelabouringclassesinasedentarycommunitywhichisatanagriculturalstageofindustry，inwhichthereisaconsiderablesubdivisionofindustry，andwhoselawsandcustomssecuretotheseclassesamoreorlessdefiniteshareoftheproductoftheirindustry。
Theselowerclassescaninanycasenotavoidlabour，andtheimputationoflabouristhereforenotgreatlyderogatorytothem，atleastnotwithintheirclass。Rather，sincelabouristheirrecognisedandacceptedmodeoflife，theytakesomeemulativeprideinareputationforefficiencyintheirwork，thisbeingoftentheonlylineofemulationthatisopentothem。Forthoseforwhomacquisitionandemulationispossibleonlywithinthefieldofproductiveefficiencyandthrift，thestruggleforpecuniaryreputabilitywillinsomemeasureworkoutinanincreaseofdiligenceandparsimony。Butcertainsecondaryfeaturesoftheemulativeprocess，yettobespokenof，comeintoverymateriallycircumscribeandmodifyemulationinthesedirectionsamongthepecuniaryinferiorclassesaswellasamongthesuperiorclass。
Butitisotherwisewiththesuperiorpecuniaryclass，withwhichwearehereimmediatelyconcerned。Forthisclassalsotheincentivetodiligenceandthriftisnotabsent；butitsactionissogreatlyqualifiedbythesecondarydemandsofpecuniaryemulation，thatanyinclinationinthisdirectionispracticallyoverborneandanyincentivetodiligencetendstobeofnoeffect。Themostimperativeofthesesecondarydemandsofemulation，aswellastheoneofwidestscope，istherequirementofabstentionfromproductivework。Thisistrueinanespecialdegreeforthebarbarianstageofculture。Duringthepredatoryculturelabourcomestobeassociatedinmen’shabitsofthoughtwithweaknessandsubjectiontoamaster。Itisthereforeamarkofinferiority，andthereforecomestobeaccountedunworthyofmaninhisbestestate。Byvirtueofthistraditionlabourisfelttobedebasing，andthistraditionhasneverdiedout。Onthecontrary，withtheadvanceofsocialdifferentiationithasacquiredtheaxiomaticforceduetoancientandunquestionedprescription。
Inordertogainandtoholdtheesteemofmenitisnotsufficientmerelytopossesswealthorpower。Thewealthorpowermustbeputinevidence，foresteemisawardedonlyonevidence。
Andnotonlydoestheevidenceofwealthservetoimpressone’simportanceonothersandtokeeptheirsenseofhisimportancealiveandalert，butitisofscarcelylessuseinbuildingupandpreservingone’sself-complacency。Inallbuttheloweststagesofculturethenormallyconstitutedmaniscomfortedandupheldinhisself-respectby“decentsurroundings“andbyexemptionfrom“menialoffices“。Enforceddeparturefromhishabitualstandardofdecency，eitherintheparaphernaliaoflifeorinthekindandamountofhiseverydayactivity，isfelttobeaslightuponhishumandignity，evenapartfromallconsciousconsiderationoftheapprovalordisapprovalofhisfellows。
Thearchaictheoreticaldistinctionbetweenthebaseandthehonourableinthemannerofaman’sliferetainsverymuchofitsancientforceeventoday。Somuchsothattherearefewofthebetterclasswhoarenopossessedofaninstinctiverepugnanceforthevulgarformsoflabour。Wehavearealisingsenseofceremonialuncleannessattachinginanespecialdegreetotheoccupationswhichareassociatedinourhabitsofthoughtwithmenialservice。Itisfeltbyallpersonsofrefinedtastethataspiritualcontaminationisinseparablefromcertainofficesthatareconventionallyrequiredofservants。Vulgarsurroundings，meanthatistosay，inexpensivehabitations，andvulgarlyproductiveoccupationsareunhesitatinglycondemnedandavoided。Theyareincompatiblewithlifeonasatisfactoryspiritualplane__with“highthinking“。FromthedaysoftheGreekphilosopherstothepresent，adegreeofleisureandofexemptionfromcontactwithsuchindustrialprocessesasservetheimmediateeverydaypurposesofhumanlifehaseverbeenrecognisedbythoughtfulmenasaprerequisitetoaworthyorbeautiful，orevenablameless，humanlife。Initselfandinitsconsequencesthelifeofleisureisbeautifulandennoblinginallcivilisedmen’seyes。
Thisdirect，subjectivevalueofleisureandofotherevidencesofwealthisnodoubtingreatpartsecondaryandderivative。Itisinpartareflexoftheutilityofleisureasameansofgainingtherespectofothers，andinpartitistheresultofamentalsubstitution。Theperformanceoflabourhasbeenacceptedasaconventionalevidenceofinferiorforce；
thereforeitcomesitself，byamentalshort-cut，toberegardedasintrinsicallybase。