# Thorstein Veblen

## Biography

Thorstein Veblen was an influential American economist and sociologist, born in 1857 in Wisconsin to Norwegian immigrant parents. Growing up in a Norwegian-speaking household, he learned English in his teens. Veblen pursued a diverse academic path, earning a Ph.D. in philosophy from Yale University in 1884. Despite his intellectual prowess, he faced early difficulties securing an academic position due to his unconventional demeanor and skepticism. His career gained momentum after joining the newly formed University of Chicago. Veblen is best known for his seminal 1899 work, "The Theory of the Leisure Class," which introduced the enduring concept of "conspicuous consumption," a term describing the act of purchasing goods to signal social status. He was a sharp critic of capitalism and a foundational figure in institutional economics, advocating for an understanding of the social and cultural dimensions of economic behavior. Veblen's later career included stints at Stanford and the University of Missouri before his death in 1929.

## Books

- [The Theory of the Leisure Class](https://samolit.com/books/96052)