The Complete Works of Thorstein Veblen (ePub)

Thorstein Bunde Veblen was a seminal American economist and sociologist, and a primary critic of capitalism. Born on July 30, 1857, in Wisconsin to Norwegian-American immigrants, Veblen is best known for his work on the evolutionary development of economic institutions and his insightful critiques of their social consequences. His most famous work, 'The Theory of the Leisure Class' (1899), introduced the concept of 'conspicuous consumption', demonstrating how social status is displayed and reinforced through wasteful spending. Veblen's scholarship, characterized by a heavily satirical and incisive writing style, frequently challenged the status quo, exposing the inherent flaws of the economic and social systems of his time. His works, compiled posthumously in 'The Complete Works of Thorstein Veblen', continue to influence economic thought and social theory, emphasizing the importance of understanding economic behavior not just through the lens of utility, but also through societal norms and institutional history. Veblen's legacy is enshrined in the term 'Veblen goods', luxury items whose desirability increases with their price, and he remains a critical figure in the field of institutional economics. He passed away on August 3, 1929, but his work still provokes thought and discussion in the 21st century amongst scholars interested in the intersection of economics, sociology, and cultural critique.