Thorstein Veblen
About the Author
Thorstein Veblen (1857-1929) was a pioneering Norwegian-American economist and sociologist whose incisive critiques of modern capitalism and social structures profoundly influenced economic thought in the early 20th century. Born in rural Wisconsin to immigrant parents, Veblen pursued an eclectic academic path, earning a Ph.D. in philosophy before delving into economics at institutions like the University of Chicago and Stanford. Renowned for his concept of 'conspicuous consumption' introduced in The Theory of the Leisure Class, Veblen's work dissected the predatory instincts underlying industrial society and the inefficiencies of business enterprise. In Theories of the Labor Movement, he analyzed the dynamics of class struggle and the limitations of organized labor within capitalist frameworks. His satirical yet scholarly prose challenged orthodox economics, advocating for a more evolutionary and institutional approach, leaving a lasting legacy on fields ranging from anthropology to political science.
