Thorstein Veblen
Thorstein Veblen (1857 – 1929) was an American economist and sociologist best known for his critique of capitalism and the concept of 'conspicuous consumption.' A prominent figure in institutional economics, he argued that social and cultural factors heavily influence economic behavior. His work laid the foundation for the institutional economics school, which emphasizes the role of institutions in shaping economic outcomes. Veblen's notable theories and writings, including 'The Theory of the Leisure Class,' continue to influence economic thought and social sciences today.
Not in the pool (under ¢1).
Recent news mentions
Thorstein Veblen introduced the concept of conspicuous consumption, which describes spending aimed at displaying status rather than satisfying real needs.
La vida perfecta en redes no incluye el estado de cuenta
Dominican Republic· 2026-03-01
Thorstein Veblen coined the term conspicuous consumption to describe spending driven by status rather than usefulness.
Nutrition myth buster: The four things that really count about food and eating no matter what your budget
New Zealand· 2026-02-05
Thorstein Veblen's theory of the leisure class warns about ostentatious consumption.
La estética de la riquezaDominican Republic· 2025-12-08
Thorstein Veblen's theory explains the persistence of class competition.
warum soziale Hierarchien nicht verschwinden
Switzerland· 2025-09-01
Thorstein Veblen identified travel as a form of 'demonstrative consumption'.
Die 9 besten Erkenntnisse aus der WissenschaftSwitzerland· 2025-07-11
Thorstein Veblen is the founder of institutional economics.
O formálnych a neformálnych pravidlách, eurofondoch a penziónoch (píše Ivan Mikloš)
Slovakia· 2025-06-25
