I just realised Lord of the Rings is a social commentary on the English class system. The Elves are the educated landed gentry, who can afford to spend their days prancing in the woods, eating and singing poetry. Hobbits are working class farmers who spend their free time drinking and gossiping in the pub.
The dwarves are taciturn miners, men are city dwellers with strange habits and easily corruptible.
Orcs and trolls are nasty dark skinned foreigners to be avoided at all costs.