Free Ebook The Theory of the Leisure Class By Thorstein Veblen

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The Theory of the Leisure Class By Thorstein Veblen

Free Ebook The Theory of the Leisure Class By Thorstein Veblen

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Published on: 2015-02-26
Original language: English
Number of items: 1
Dimensions: 8.00" h x .61" w x 5.00" l, .59 pounds
Binding: Paperback
242 pages

Review

"In his first and most fascinating book, Veblen was mocking a process as old as civilization. He expressed his skepticism in a rough-hewn prose style which made him the most impressive American satirist of his day."

—Time

"Every brash, upcoming generation should discover Veblen, and most complacent adults need to rediscover him."

—The Minneapolis Tribune

From the Inside Flap
Almost a century after its original publication, Thorstein Veblen's work is as fresh and relevant as ever. Veblen's The Theory of the Leisure Class is in the tradition of Adam Smith's The Wealth of Nations and Thomas Hobbes's Leviathan, yet it provides a surprisingly contemporary look at American economics and society. Establishing such terms as "conspicuous consumption" and "pecuniary emulation," Veblen's most famous work has become an archetype not only of economic theory, but of historical and sociological thought as well. As sociologist Alan Wolfe writes in his Introduction, Veblen "skillfully . . . wrote a book that will be read so long as the rich are different from the rest of us; which, if the future is anything like the past, they always will be."

About the Author
Thorstein Bunde Veblen, (1857–1929) was an American sociologist and economist and a primary mentor, along with John R. Commons, of the institutional economics movement. Besides his technical work he was a popular and witty critic of capitalism, as shown by his best known book The Theory of the Leisure Class (1899). Veblen is famous in the History of economic thought for combining a Darwinian evolutionary perspective with his new institutionalist approach to economic analysis. He combined sociology with economics in his masterpiece, The Theory of the Leisure Class (1899), arguing there was a basic distinction between the productiveness of "industry," run by engineers, which manufactures goods, and the parasitism of "business," which exists only to make profits for a leisure class. The chief activity of the leisure class was "conspicuous consumption", and their economic contribution is "waste," activity that contributes nothing to productivity. The American economy was therefore made inefficient and corrupt by the businessmen, though he never made that claim explicit. Veblen believed that technological advances were the driving force behind cultural change, but, unlike many contemporaries, he refused to connect change with progress. Although Veblen was sympathetic to state ownership of industry, he had a low opinion of workers and the labor movement and was hostile toward Marxism. As a leading intellectual of the Progressive Era, his sweeping attack on production for profit and his stress on the wasteful role of consumption for status greatly influenced socialist thinkers and engineers seeking a non-Marxist critique of capitalism. Experts complained his ideas, while brilliantly presented, were crude, gross, fuzzy, and imprecise; others complained he was a wacky eccentric. Scholars continue to debate exactly what he meant in his convoluted, ironic and satiric essays; he made heavy use of examples of primitive societies, but many examples were pure invention.

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