Thorstein Veblen (1857–1929) was an American economist and sociologist best known for his critical analysis of Capitalism and economic institutions. His seminal Work, "The Theory of the Leisure Class," introduced the concept of conspicuous Consumption, which scrutinizes the social and economic behaviors of elites. Veblen's critical Perspective on consumer culture and his insights into Business and Industry have left a lasting Impact on economic Thought and social theory. His writings continue to be relevant in discussions about Economic Inequality and the socio-cultural effects of capitalism.
Anecdotes
- Once lived in a cabin in the woods that he built himself, emphasizing simplicity amidst his critiques of consumerism. Famously preferred to write on scraps of paper and envelopes, favoring frugality over convention. Known for his Eccentricity, he often wore mismatched shoes, ignoring societal norms of appearance.
- Grew up speaking only Norwegian at home, reflecting his strong immigrant roots despite Becoming a renowned American economist.
- Developed a Reputation for eccentricity and unconventional behavior, often entertaining guests while wearing slippers and a dressing gown.
Magnitudes
- Question the norms; defy conventional Wisdom.
- Challenge prevailing norms through incisive Critique.
- Challenge conventional wisdom to uncover hidden truths.
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