Thorstein Veblen on the cultural and economic significance of modern sports

Luke Petach and J Patrick Raines

Cambridge Journal of Economics, 2023, vol. 47, issue 2, 435-449

Abstract: This paper adopts an evolutionary institutionalist approach to explain the persistent popularity of sports in the USA. Veblen’s writing in Theory of the Leisure Class suggests two cultural and economic functions of modern sports: as a mode of preservation of leisure class values and as a means of conspicuous waste. Our analysis emphasises the role of sports as an institution for the preservation of leisure class values in general, and what Veblen terms ‘predatory prowess’ in particular. We identify several contemporary examples of Veblenian cultural traits that explain the affinity for sports in America and illustrate the continued applicability of Veblen’s analysis. Finally, we offer support for the Veblenian view by expanding the scope of our argument to the broader evolutionary institutionalist literature.

Keywords: Veblen; Sports; Evolutionary economics; Institutions; College football (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/cje/beac066 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:47:y:2023:i:2:p:435-449.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().