Thorstein Veblen and the New Barbarians
In 1899, the maverick economist Thorstein Veblen proposed a unified field theory of American civilization. In his savage and oracular masterpiece, The Theory of the Leisure Class, Veblen theorized that wasteful extravagance isn’t a mere byproduct of consumer capitalism, but its underlying rationale. After all, without gross displays of wealth—“conspicuous consumption” was Veblen’s memorable term—how … Read more