Thorstein Veblen

Thorstein Veblen was an American economist and sociologist. He is best known for his theory of conspicuous consumption, which argues that people buy goods and services to display their wealth and status. Veblen was born in Wisconsin in 1857 and studied at Yale University. He went on to become a professor at the University of Chicago, where he taught economics and sociology. Veblen was a prominent figure in the development of modern sociology and his work continues to be widely read and studied today. He died in 1929.