The Theory of the Leisure Class (eBook)

Thorstein Bunde Veblen (1857-1929) was an American economist and sociologist, renowned for his critical analyses of capitalist society and for coining concepts such as 'conspicuous consumption.' Veblen's interdisciplinary approach combined economic theory with socio-cultural commentary, examining the intricate weave of social norms and economic processes. His most famous work, 'The Theory of the Leisure Class' (1899), remains a seminal text in the field of economics and sociology. In it, Veblen articulates how the upper classes use conspicuous consumption and leisure to signal wealth and social status, a critique that resonates with contemporary understandings of consumerism and social stratification. A leading figure in the Institutionalist School of economic thought, Veblen's legacy includes influencing subsequent economists and thinkers who have sought to understand the social implications of economic behaviors. His scholarship, characterized by incisive wit and satirical prose, critiqued the very foundations of the capitalist system, particularly its inefficiencies and the negative consequences of industrialization. Veblen's work remains relevant, underpinning modern discussions of economic inequality and the cultural dimensions of economics.