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Quote by Thorstein Veblen

“Abstention from labor is the conventional evidence of wealth and is therefore the conventional mark of social standing.”

Quote by Thorstein Veblen

Book:A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism

Work

A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism

Drawing from Veblen's foundational work on the theory of the leisure class, this collection delves into the critical analysis of how conspicuous consumption and status-seeking behaviors shape economic systems. The book examines Veblen's perspectives on the relationship between industrial production and financial interests, particularly his observations about how business enterprises pursue profit maximization through practices that may not align with broader social welfare. The analysis extends to Veblen's insights on the role of price-setting and the tension between making goods and making money, exploring how these dynamics influence economic stability and conflict. Throughout the work, Veblen's critique of the capitalist system and its inherent contradictions provides a framework for understanding broader economic behaviors and their social implications. 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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