Thorstein Veblen’s The Theory of The Leisure Class

In 2011, Thorstein Veblen was ranked seventh in a poll of economists on their favourite, dead, 20th century economist. He ranked behind Keynes, Friedman, Samuelson, Hayek, Schumpeter and Galbraith. His supporters were among the least liberal (in the classical sense of the word) of the survey participants. Given his approach to consumerism, as detailed in The Theory of the Leisure Class, this is no surprise. The Theory of the Leisure Class, published in 1899, was one of the earliest books to explore the economic assumption that people wish to consume. ….[READ]