ABSTRACT
The principle of conspicuous waste guides the formation of habits of thought as to what is honest and reputable in life and in commodities. In so doing, this principle will traverse other norms of conduct which do not primarily have to do with the code of pecuniary honor, but which have, directly or incidentally, an economic significance of some magnitude. The canon of conspicuous waste is accountable for a great portion of what may be called devout consumption; as the consumption of sacred edifices, vestments, and other goods of the same class. The like pervading guidance of taste by pecuniary repute is traceable in prevalent standards of beauty in animals. The horse is a beautiful animal, although the race-horse is so in no peculiar degree to the uninstructed taste of those persons who belong neither in the class of race-horse fanciers nor in the class whose sense of beauty is held in abeyance by moral constraint of horse fancier's award.
