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Thorstein Veblen information


Thorstein Veblen
Born
Thorstein Bunde Veblen

(1857-07-30)July 30, 1857
Cato, Wisconsin, U.S.
DiedAugust 3, 1929(1929-08-03) (aged 72)
Menlo Park, California, U.S.
Academic career
Institutions
  • Cornell University
  • University of Chicago
  • Stanford University
  • University of Missouri
  • The New School for Social Research
FieldEconomics, socioeconomics
School or
tradition
Institutional economics
Alma mater
  • Carleton College
  • Johns Hopkins University
  • Yale University
  • Cornell University
InfluencesHerbert Spencer, Thomas Paine, William Graham Sumner, Lester F. Ward, William James, Georges Vacher de Lapouge, Edward Bellamy, John Dewey, Gustav von Schmoller, John Bates Clark, Henri de Saint-Simon, Charles Fourier
ContributionsConspicuous consumption, conspicuous leisure, trained incapacity, Veblenian dichotomy

Thorstein Bunde Veblen (July 30, 1857 – August 3, 1929) was an American economist and sociologist who, during his lifetime, emerged as a well-known critic of capitalism.

In his best-known book, The Theory of the Leisure Class (1899), Veblen coined the concepts of conspicuous consumption and conspicuous leisure. Veblen laid the foundation for the perspective of the institutional economics. Contemporary economists still theorize Veblen's distinction between "institutions" and "technology", known as the Veblenian dichotomy.

As a leading intellectual of the Progressive Era in the US, Veblen attacked production for profit. His emphasis on conspicuous consumption greatly influenced economists who engaged in non-Marxist critiques of fascism, capitalism, and technological determinism.

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Thorstein Veblen

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Veblen good

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A Veblen good is a type of luxury good, named after American economist Thorstein Veblen, for which the demand increases as the price increases, in apparent...

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Thorstein Veblen Farmstead

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The Thorstein Veblen Farmstead is a National Historic Landmark near Nerstrand in rural Rice County, Minnesota. The property preserves the childhood home...

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The Theory of the Leisure Class

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of the Leisure Class: An Economic Study of Institutions (1899), by Thorstein Veblen, is a treatise of economics and sociology, and a critique of conspicuous...

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Institutional economics

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institutions in shaping economic behavior. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and...

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Veblen

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Veblen may refer to: Thorstein Veblen (1857–1929), American economist and sociologist Thomas T. Veblen (born 1947), American forester Oswald Veblen (1880–1960)...

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The Engineers and the Price System

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The Engineers and the Price System, by Thorstein Veblen, is a compilation of a series of papers originally published in The Dial in 1919, each of which...

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Technocracy

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tb01899.x. Wood, John (1993). The life of Thorstein Veblen and perspectives on his thought. introd. Thorstein Veblen. New York: Routledge. p. 369. ISBN 978-0-415-07487-2...

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The Theory of Business Enterprise

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Business Enterprise is an economics (or political economy) book by Thorstein Veblen, published in 1904, that looks at the growing corporate domination...

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Trophy wife

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is the male equivalent. In his Theory of the Leisure Class (1899), Thorstein Veblen suggested that "The original reason for the seizure and appropriation...

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Oswald Veblen

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at the University of Iowa, and Kirsti (Hougen) Veblen (1851–1908). Veblen's uncle was Thorstein Veblen, noted economist and sociologist. Oswald went to...

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Conspicuous leisure

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is a concept introduced by the American economist and sociologist Thorstein Veblen in The Theory of the Leisure Class (1899). Conspicuous or visible leisure...

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Technological determinism

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and cultural values. The term is believed to have originated from Thorstein Veblen (1857–1929), an American sociologist and economist. The most radical...

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Technocracy movement

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of Thorstein Veblen. Early technocratic organisations formed after the First World War. These included Henry Gantt’s "The New Machine" and Veblen’s "Soviet...

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Law of demand

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more, since it will be further out of reach for an average consumer. Thorstein Veblen referred to this sort of consumption as the purchase of goods that...

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History of economic thought

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2017 at the Wayback Machine Veblen, Thorstein. The Theory of the Leisure Class: an economic study of institutions (1899) Veblen, Thorsten. (1904). Theory...

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Neoclassical economics

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some remain distinct fields. The term was originally introduced by Thorstein Veblen in his 1900 article "Preconceptions of Economic Science", in which...

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Conspicuous consumption

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price, or in greater quantity than practical. In 1899, the sociologist Thorstein Veblen coined the term conspicuous consumption to explain the spending of...

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Leisure

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of experience and involvement. Other classic definitions include Thorstein Veblen's (1899) of "nonproductive consumption of time." Free time is not easy...

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Backwardness

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and many countries appear to follow both models rather adequately. Thorstein Veblen's 1915 Imperial Germany and the Industrial Revolution is an extended...

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Sociology

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Du Bois, Vilfredo Pareto, Alexis de Tocqueville, Werner Sombart, Thorstein Veblen, Ferdinand Tönnies, Georg Simmel, Jane Addams and Karl Mannheim are...

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List of liberal theorists

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Louis Brandeis (1856–1941) Thorstein Veblen (1857–1926) is best known as the author of Theory of the Leisure Class. Veblen was influential to a generation...

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Institutionalist political economy

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economy, thought to stem from the works of institutionalists such as Thorstein Veblen, John Commons, Wesley Mitchell and John Dewey. It emphasizes the impact...

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Demonstration effect

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Duesenberry and Robert H. Frank, following the original insights of Thorstein Veblen (1899), have argued that awareness of the consumption habits of others...

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Jonathan Nitzan

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with institutional political economists such as Thorstein Veblen. In particular, they share Veblen's explanation that business exists with the end of...

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