The use of the
word "waste" as a technical term, therefore, implies no
deprecation of the motives or of the ends sought by the consumer
under this canon of conspicuous waste.
But it is, on other grounds, worth noting that the term "waste"
in the language of everyday life implies deprecation of what is
characterized as wasteful. This common-sense implication is
itself an outcropping of the instinct of workmanship. The popular
reprobation of waste goes to say that in order to be at peace
with himself the common man must be able to see in any and all
human effort and human enjoyment an enhancement of life and
well-being on the whole. In order to meet with unqualified
approval, any economic fact must approve itself under the test of
impersonal usefulness -- usefulness as seen from the point of view
of the generically human. Relative or competitive advantage of
one individual in comparison with another does not satisfy the
economic conscience, and therefore competitive expenditure has
not the approval of this conscience.
In strict accuracy nothing should be included under the head of
conspicuous waste but such expenditure as is incurred on the
ground of an invidious pecuniary comparison.
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