The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
4. _The defenders of luxury claim that it is the great incentive to
progress._ It is undoubtedly true that a dead level of conditions is
unfavorable to the progress of society. There must be in society some
motive for emulation and ambition after the bare necessities of life are
provided. There is therefore much strength in the defense of luxury.
Necessities, strictly understood, are things absolutely essential to
life and health. No hard line can be drawn between necessities and
comforts, between comforts and luxuries. The level rises; it is a trite
and true saying that the luxuries of one age become the necessities of
the next. The rise of the bath-tub in the nineteenth century is an
epitome of the progress of civilization in that period. The free baths
in our cities surpass the hopes of the wealthy of a century ago. Even
the meaner motives of envy may have their social function. The lower
social grades, emulous of the higher standard held before them, labor
with greater energy. The successful and capable, not content with
necessities, continue to give their efforts to production. The
destruction of the motive of luxury before the development of a
substitute in a higher social conscience, would be paralyzing to
industry. Luxury in a moderate measure may be defended by the same
arguments as those for private property. True as this view may be in
many cases, in others it seems directly opposed to the facts. Let us
look at the economico-moral questions involved from the side of the
individual who is indulging in luxury, and from that of the society in
which he lives.
[Sidenote: Happiness and the simple life]
Public-domain text, read in full here on John Shaqi.
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