The Theory of the Leisure Class

Focusing on the interplay between economics and human culture, Thorstein Veblen critiques the modern industrial system in his influential work. He contrasts the diligence required by industry with the self-serving motives of businessmen, introducing the concept of "conspicuous consumption" to illustrate their obsession with wealth display. By applying Darwinian principles to economic behavior, Veblen explores the psychological underpinnings of American social and economic institutions, establishing the groundwork for institutional economics.