Definition

1. Proper noun:
   • An American economist and sociologist: Thorstein Bunde Veblen was a prominent scholar known for his critical analysis of economic systems and social institutions, particularly in his works on "conspicuous consumption" and the "leisure class."

Examples of Usage

• Proper noun:
  • Thorstein Bunde Veblen's theories on conspicuous consumption remain influential in sociology.
  • The economist Thorstein Bunde Veblen authored "The Theory of the Leisure Class."

Advanced Usage

• "Veblenian analysis": Refers to a method of social critique inspired by Veblen's work, focusing on the social functions of economic behavior and institutional evolution.
  • The paper applied a Veblenian analysis to modern advertising practices.

Variants and Related Words

• Veblen (noun): A common shortened reference to Thorstein Bunde Veblen or his ideas.

  • The concept is deeply rooted in Veblen.

• Veblenesque (adj): Characteristic of or resembling the ideas of Thorstein Veblen, especially regarding critical observations of consumption and status.

  • The film offered a Veblenesque satire of luxury culture.

Synonyms

• Social economist: A scholar who studies the interplay between economic activity and social structures.
• Institutional economist: An economist who emphasizes the role of social institutions in shaping economic behavior.

Related Phrases

• "Conspicuous consumption": A term popularized by Veblen in his 1899 book, describing the spending of money on luxury goods and services to publicly display economic power.

  • The purchase of the sports car was an act of conspicuous consumption.

• "Leisure class": A social class, as defined by Veblen, that is exempt from productive work and engages in conspicuous leisure and consumption to demonstrate status.

  • Veblen critiqued the habits of the leisure class.

Related Idioms

• "A Veblen good": In economics, a type of luxury good for which demand increases as its price increases, due to its exclusive and status-conferring nature. This term is derived from Veblen's observations.
  • Some designer handbags are considered Veblen goods.

Noun

1. United States economist who wrote about conspicuous consumption (1857-1929)