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。