Conspicuous Consumption and the Economic Theory of Thorstein Veblen
The harsh reality of a Minnesotan Economist
Date & Time:
11:45 AM - 1:15 PM
Center for Catholic Studies, Sitzmann Hall Room 207
The first truly American economist was the son of a Norwegian immigrant family in the Midwest, Thorstein Veblen. He described the savage reality of the robber barons’ version of capitalism and discovered phenomena that are still valid today, like conspicuous consumption, the manager, the centrality of the business enterprise, and others that have again acquired importance in our days. He is also associated with institutionalism. His Christianity is rather a cultural veneer than an inspiring force in his life but his grasp of reality points us toward the importance of truth and reason for faith.