Once, long ago, being richer meant working less.
In his 1899 book The Theory of the Leisure Class, the economist and sociologist Thorstein Veblen wrote that “conspicuous abstention from labor … becomes the conventional mark of superior pecuniary achievement.” In other words, the richer one gets, the less one works and the more likely one is to try to show off one’s ample leisure time.
For a while, Veblen’s theory held, with few exceptions. But no longer. In the U.S., one can now make a good guess about how rich somebody is based on the long hours they put in at work. The wealthiest American men, on average, work more than those poorer than them.
With this workaholic lifestyle, though, comes quite a bit of prestige, a perk that the researcher Silvia Bellezza, a professor of marketing at Columbia Business School, has found Americans to be all too aware of. Bellezza is the author, along with Georgetown’s Neeru Paharia and Harvard’s Anat Keinan, of a recent paper in the Journal of Consumer Research about the prominence of an unusual status symbol: seeming busy.