The Theory of the Leisure Class, published in 1899, is the founding text of institutional economics. Thorstein Veblen argued that much of the consumption of the wealthy is driven by a desire to display status, which Veblen called conspicuous consumption, rather than by straightforward utility, and he called for economics to study evolving habits and institutions rather than build abstract models around fixed rational preferences.
Facts
AuthorThorstein Veblen
Publication Year1899
Source Typeprimary-text
Sources
The Theory of the Leisure Class
Thorstein Veblen, 1899
Claims Backed By This Source (14 claims)
This source backs 14 claims across the atlas. As facts: 10 well-attested. As cited relationships: 1 holds. Plus 3 entities citing it as a general reference with no single fact or relationship attached.
Disposition By Topic
- Articles, 5 claims: 4 well-attested, 1 general references.
- Sources, 4 claims: 4 well-attested.
- Schools of Thought, 3 claims: 2 well-attested, 1 general references.
- Economists, 2 claims: 1 holds, 1 general references.
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