Thorstein Veblen : Norwegian-American Economist, Sociologist, Well-known Critic of Modern Economics, Theorist of the Diminishing Return, and both an Anti-capitalist and Anti-socialist Thinker

July 30, 1857 — August 3, 1929

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A Norwegian-American economist and sociologist who, during his lifetime, emerged as a well-known critic of capitalism. In his best-known book, The Theory of the Leisure Class (1899), Veblen coined the concepts of conspicuous consumption and conspicuous leisure. Historians of economics regard Veblen as the founding father of the institutional economics school.

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July 30, 1857
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August 3, 1929
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