Thorstein Bunde Veblen

Veblen, Thorstein Bunde (1857–1929), U.S. economist and author. A social theorist known for his study of economic evolution and social change, Veblen produced sharp analyses of the wealthy classes. His Theory of the Leisure Class (1899), coined such terms as “conspicuous consumption” and “pecuniary emulation.” Other works include The Theory of Business Enterprise (1904), a criticism of capitalism; and The Engineers and the Price System (1921).

See also: Economics.