Thorstein Veblen

Thorstein Veblen (1857–1929) was an American economist and sociologist known for his critical analysis of capitalism and social institutions. He coined the term "conspicuous consumption" in his influential 1899 book The Theory of the Leisure Class, which critiques the behavior of the wealthy in a materialistic society. Veblen's work laid the foundation for institutional economics and remains seminal in understanding consumer society and critiques of capitalism.