VEBLEN, Thorstein (1857-1929). The American economist and social critic Thorstein Veblen, in his popular book 'The Theory of the Leisure Class', used Charles Darwin's theory of evolution to analyze the modern industrial system. He claimed that industry demands diligence, efficiency, and cooperation among businessmen. What he saw instead were companies run by selfish predators interested in making money and displaying their wealth in what he termed "conspicuous consumption." Veblen's other books include 'The Theory of Business Enterprise' (1904), 'The Instinct of Workmanship and the State of the Industrial Arts' (1914), and 'Imperial Germany and the Industrial Revolution' (1915).
Last modified: Thursday, 31-May-2007 09:41:35 EDT