The Beginning of Ownership - Veblen, Thorstein
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Originally published in 1899, this is a work by Thorstein Veblen, an American economist and sociologist. It is an article written for the American Journal of Sociology publication outlining some of his economic theories. We are republishing this work with a brand new introductory biography of the author with the aim of placing it in the context of his other writings and achievements.

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Produktbeschreibung
Originally published in 1899, this is a work by Thorstein Veblen, an American economist and sociologist. It is an article written for the American Journal of Sociology publication outlining some of his economic theories. We are republishing this work with a brand new introductory biography of the author with the aim of placing it in the context of his other writings and achievements.
Autorenporträt
Thorstein Bunde Veblen (July 30, 1857 - August 3, 1929) was an influential American economist and sociologist, renowned for his critical analysis of capitalism and his contributions to institutional economics. Veblen's most famous work, The Theory of the Leisure Class (1899), introduced the concepts of "conspicuous consumption" and "conspicuous leisure," which critique the extravagant display of wealth and status by the upper class. His work examined how the wealthy class's consumption patterns are driven by the desire to show social superiority rather than for practical use, and he argued that this behavior leads to societal inefficiency and waste. Veblen's theories also laid the groundwork for the institutional economics perspective, emphasizing the role of institutions, such as laws, customs, and social structures, in shaping economic behavior. He distinguished between "institutions" and "technology," a framework known as the Veblenian dichotomy, which remains influential in contemporary economic thought. Veblen's critiques of capitalism, alongside his focus on the broader societal context in which economic activities occur, have made him a significant figure in the field of economics and sociology.