Thorstein Veblen
Biography
Thorstein Bunde Veblen (1857–1929) was an American economist and social critic, one of the most original thinkers of the Gilded Age. Born to Norwegian immigrant parents in Wisconsin, he studied at Johns Hopkins, Yale, and Cornell, though his unconventional personality hindered an academic career. Veblen’s masterpiece, The Theory of the Leisure Class (1899), introduced the concept of “conspicuous consumption” into the language and offered a devastating critique of wealth-driven social behavior. His iconoclastic economic theories challenged classical economics and influenced institutional economics, sociology, and cultural criticism.
Common themes in Thorstein Veblen's work
Conspicuous consumption
A recurring theme throughout Thorstein Veblen's writing.
Social criticism
A recurring theme throughout Thorstein Veblen's writing.
Economic theory
A recurring theme throughout Thorstein Veblen's writing.
Gilded Age
A recurring theme throughout Thorstein Veblen's writing.
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Why Thorstein Veblen is still read today
Veblen’s concept of conspicuous consumption remains essential to understanding modern consumer culture. His critique of status-driven spending is arguably more relevant in the age of social media than when first written.
Frequently Asked Questions
Who was Thorstein Veblen?
Thorstein Veblen was an American economist who coined the term ‘conspicuous consumption’ in his classic The Theory of the Leisure Class. Read it free on TextStack.
What is conspicuous consumption?
Spending money on goods primarily to display wealth and social status rather than for practical use—a concept Veblen introduced in 1899.
Is Veblen still relevant?
Extremely so. His analysis of status-driven consumption applies directly to modern consumer culture and social media behavior.
Where can I read Veblen online?
TextStack offers The Theory of the Leisure Class free to read online.
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