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The Vested Interests and the Common Man 
by Thorstein Veblen 
1919 
 
 
Chapter 1 
 
The Instability of Knowledge and Belief 
 
    As is true of any other point of view that may be 
characteristic of any other period of history; so also the modern 
point of view is a matter of habit。 It is common to the modern 
civilised peoples only in so far as these peoples have come 
through substantially the same historical experience and have 
thereby acquired substantially the same habits of thought and 
have fallen into somewhat the same prevalent frame of mind。 This 
modern point of view; therefore; is limited both in time and 
space。 It is characteristic of the modern historical era and of 
such peoples as lie within the range of that peculiar 
civilisation which marks off the modern world from what has gone 
before and from what still prevails outside of its range。 In 
other words; it is a trait of modern Christendom; of Occidental 
civilisation as it has run within the past few centuries。 This 
general statement is not vitiated by the fact that there has been 
some slight diffusion of these modern and Western ideas outside 
of this range in recent times。 
    By historical accident it happens that the modern point of 
view has reached its maturest formulation and prevails with the 
least faltering among the French and English…speaking peoples; so 
that these peoples may be said to constitute the center of 
diffusion for that system of ideas which is called the modern 
point of view。 Outward from this broad center the same range of 
ideas prevail throughout Christendom; but they prevail with less 
singleness of conviction among the peoples who are culturally 
more remote from this center; increasingly so with each farther 
remove。 These others have carried over a larger remainder of the 
habits of thought of an earlier age; and have carried them over 
in a better state of preservation。 It may also be that these 
others; or some of them; have acquired habits of thought of a new 
order which do not altogether fit into that system of ideas that 
is commonly spoken of as the modern point of view。 That such is 
the case need imply neither praise nor blame。 It is only that; by 
common usage; these remainders of ancient habits of thought and 
these newer preconceptions that do not fit into the framework of 
West…European conventional thinking are not ordinarily rated as 
intrinsic to the modern point of view。 They need not therefore be 
less to the purpose as a guide and criterion of human living; it 
is only that they are alien to those purposes which are 
considered to be of prime consequence in civilised life as it is 
guided and tested by the constituent principles of the modern 
point of view。 
    What is spoken of as a point of view is always a composite 
affair; some sort of a rounded and balanced system of principles 
and standards; which are taken for granted; at least 
provisionally; and which serve as a base of reference and 
legitimation in all questions of deliberate opinion。 So when any 
given usage or any line of conduct or belief is seen and approved 
from the modern point of view; it comes to the same as saying 
that these things are seen and accepted in the light of those 
principles which modern men habitually consider to be final and 
sufficient。 They are principles of right; equity; propriety; 
duty; perhaps of knowledge; belief; and taste。 
    It is evident that these principles and standards of what is 
right; good; true; and beautiful; will vary from one age to 
another and from one people to another; in response to the 
varying conditions of life; inasmuch as these principles are 
always of the nature of habit; although the variation will of 
course range only within the limits of that human nature that 
finds expression in these same principles of right; good; truth; 
and beauty。 So also; it will be found that something in the way 
of a common measure of truth and sufficiency runs through any 
such body of principles that are accepted as final and 
self…evident at any given time and place;  in case this 
habitual body of principles has reached such a degree of poise 
and consistency that they can fairly be said to constitute a 
stable point of view。 It is only because there is such a degree 
of consistency and such a common measure of validity among the 
commonly accepted principles of conduct and belief today; that it 
is possible to speak intelligently of the modern point of view; 
and to contrast it with any other point of view which may have 
prevailed earlier or elsewhere; as; e。g。; in the Middle Ages or 
in Pagan Antiquity。 
    The Romans were given to saying。 Tempora mutantur; and the 
Spanish have learned to speak indulgently in the name of 
Costumbres del pais。 The common law of the English…speaking 
peoples does not coincide at all points with what was 
indefeasibly right and good in the eyes of the Romans; and still 
less do its principles countenance all the vagaries of the Mosaic 
code。 Yet; each and several; in their due time and institutional 
setting; these have all been tried and found valid and have 
approved themselves as securely and eternally right and good in 
principle。 
    Evidently these principles; which so are made to serve as 
standards of validity in law and custom; knowledge and belief; 
are of the nature of canons; established rules; and have the 
authority of precedent; prescription。 They have been defined by 
the attrition of use and wont and disputation; and they are 
accepted in a somewhat deliberate manner by common consent; and 
are upheld by a deliberate public opinion as to what is right and 
seemly。 In the popular apprehension; and indeed in the 
apprehension of the trained jurists and scholars for the time 
being; these constituent principles of the accepted point of view 
are 〃fundamentally and eternally right and good。〃 But this 
perpetuity with which they so are habitually invested in the 
popular apprehension; in their time; is evidently such a 
qualified perpetuity only as belongs to any settled outgrowth of 
use and wont。 They are of an institutional character and they are 
endowed with that degree of perpetuity only that belongs to any 
institution。 So soon as a marked change of circumstances comes 
on;  a change of a sufficiently profound; enduring and 
comprehensive character; such as persistently to cross or to go 
beyond those lines of use and wont out of which these settled 
principles have emerged;  then these principles and their 
standards of validity and finality must presently undergo a 
revision; such as to bring on a new balance of principles; 
embodying the habits of thought enforced by a new situation; and 
expressing itself in a revised scheme of authoritative use and 
wont; law and custom。 In the transition from the medieval to the 
modern point of view; e。 g。; there is to be seen such a pervasive 
change in men's habitual outlook; answering to the compulsion of 
a new range of circumstances which then came to condition the 
daily life of the peoples of Christendom。 In this mutation of the 
habitual outlook; between medieval and modern times; the contrast 
is perhaps most neatly shown in the altered standards of 
knowledge and belief; rather than in the settled domain of law 
and morals。 Not that the mutation of habits which then overtook 
the Western world need have been less wide or less effectual in 
matters of conduct; but the change which has taken effect in 
science and philosophy; between the fourteenth century and the 
nineteenth; e。 g。; appears to have been of a more recognizable 
character; more easily defined in succinct and convincing terms。 
It has also quite generally attracted the attention of those men 
who have interested themselves in the course of historical 
events; and it has therefore become something of a commonplace in 
any standard historical survey of modern civilisation to say that 
the scheme of knowledge and belief underwent a visible change 
between the Middle Ages and modern times。 
    It will also be found true that the canons of knowledge and 
belief; the principles governing what is fact and what is 
credible; are more intimately and intrinsically involved in the 
habitual behavior of the human spirit than any factors of human 
habit in other bearings。 Such is necessarily the case; because 
the principles which guide and limit knowledge and belief are the 
ways and means by which men take stock of what is to be done and 
by which they take thought of how it is to be done。 It is by the 
use of their habitual canons of knowledge and belief; that men 
construct those canons of conduct which serve as guide and 
standards in practical life。 Men do not pass appraisal on matters 
which lie beyond the reach of their knowledge and belief; nor do 
they formulate rules to govern the game of life beyond that 
limit。 
    So; congenitally blind persons do not build color schemes; 
nor will a man without an 〃ear for music〃 become a master of 
musical composition。 So also; 〃the medieval mind〃 took no thought 
and made no provision for those later…arisen exigencies of life 
and those lat

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