“A standard of living is of the nature of habit. ...it acts almost solely to prevent recession from a scale of conspicuous expenditure that has once become habitual.”
Quote by Thorstein Veblen
Work
THE THEORY OF THE LEISURE CLASS: An Economic Study of American Institutions and a Social Critique of Conspicuous Consumption: Development of Institutions That Shape Society and Influence the Livelihood of Citizens: Based on Sociological & Economical Theories of Charles Darwin, Karl Marx, Adam Smith and Herbert Spencer
The Theory of the Leisure Class is a comprehensive economic analysis that examines the social and economic structures of the United States. It delves into the concept of conspicuous consumption and its role in shaping societal institutions. The book integrates sociological and economical theories from prominent thinkers such as Charles Darwin, Karl Marx, Adam Smith, and Herbert Spencer to provide a nuanced understanding of the factors influencing the livelihood of citizens. It serves as a critical examination of the economic and social dynamics at play in American society. more
Author
Thorstein Veblen
Thorstein Veblen was an American economist known for his sociological perspective on economics and his critical analysis of economic theories. His work, 'The Theory of the Leisure Class,' had a profound impact on later economics and sociology. more
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