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Thorstein Veblen
Thorstein Veblen (1857–1929) was an American economist and sociologist best known for his critique of capitalism and his analysis of social class structures. He coined the term "conspicuous consumption" in his 1899 book "The Theory of the Leisure Class," describing the lavish spending by the wealthy to display status rather than satisfy needs. Veblen also critiqued the inefficiencies of business practices in "The Theory of Business Enterprise" (1904), focusing on the conflict between industrial production and financial manipulation. His ideas influenced later thinkers in economics and sociology, though his works were often more admired for their insights than widely adopted.
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Thorstein Veblen
CHAPTER I Introductory: On the State and its Relation to War and Peace To many thoughtful men ripe in worldly wisdom it is known of a verity that war belongs indefeasibly in the Order of Nature. Contention, with manslaughter, is indispensable in human intercourse, at the same time that it conduces to the increase and diffusion of the manly virtues. So likewise, the unspoiled youth of the race, in the...
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Thorstein Veblen
Chapter One ~~ Introductory The institution of a leisure class is found in its best development at the higher stages of the barbarian culture; as, for instance, in feudal Europe or feudal Japan. In such communities the distinction between classes is very rigorously observed; and the feature of most striking economic significance in these class differences is the distinction maintained between the...
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