The Problem 3 



periodically replaced. If all that society gains 

 from them is the pleasure of their consump- 

 tion, the presence of a surplus may create 

 prosperity, give an immediate relief from toil, 

 and add much to the fund of current enjoy- 

 ment ; but in the end the periodic replacement 

 of the surplus ceases through the diminution 

 of its resources. To make progress secure, the 

 temporary surplus must be transformed into 

 permanent conditions or into mental traits. If 

 this transformation is not possible, all progress 

 is temporary ; if it is possible, then the process 

 of its transformation becomes the key to social 

 progress. 



The problem is really simpler than I have 

 here stated it. While permanent conditions 

 may be said to be the peculiar province of the 

 economist, and do attract much of his attention, 

 yet their scope is limited. In fact, little of 

 our material environment has come down from 

 the past, so that no nation survives which 

 has relied on its permanent improvements. 

 We talk freely about our inherited wealth, 

 and yet, great as is the wealth of the leisure 

 class, but few of the goods of its members 



