IMPERIAL GERMANY AND THE INDUSTRIAL REVOLUTION (eBook)

Thorstein Veblen was an American economist and sociologist, best known for his incisive critiques of capitalist society and his analysis of the intersection between economics and social mores. Born on July 30, 1857, in Cato, Wisconsin, Veblen was a progenitor of the institutional economics movement and his intellectual legacy continues to influence economic and social theorists to this day. Veblen obtained his Ph.D. from Yale University in 1884 and held various academic positions throughout his career. He was a prolific writer, penning several seminal works that reshaped economic thought, such as 'The Theory of the Leisure Class' and 'The Theory of Business Enterprise.' In 'Imperial Germany and the Industrial Revolution' (1915), Veblen explored the industrial transformation of Germany and its relationship to political, cultural, and economic changes at the turn of the 20th century. His analysis delved into the dynamics of economic development and their impact on power structures and warfare. Veblen is especially noted for coining the term 'conspicuous consumption,' which remains a vital concept in the study of consumer economics. Veblen's literary style is characterized by a critical, often satirical tone that dissected the societal norms and the economic undercurrents that shape them. He died on August 3, 1929, but his ideas have had a lasting impact, inspiring generations of thinkers who seek to understand the complex social fabric of market-driven economies.