Everything about Thorstein Veblen totally explained
Thorstein Bunde Veblen (born
Tosten Bunde Veblen July 30,
1857 –
August 3,
1929) was a Norwegian-American
sociologist and
economist and a founder, along with
John R. Commons, of the
Institutional economics movement. He was an impassioned critic of the performance of the American economy, and is most famous for his book
The Theory of the Leisure Class (1899).
Biography
Veblen was born in
Cato, Wisconsin, of Norwegian immigrant parents. While Norwegian was his first language, he learned English both from neighbors and from school, which he began at the age of 5. His family was highly successful and placed great emphasis on education and hard work, all of which undoubtedly contributed to his later scorn for what he termed “
conspicuous consumption” and waste of the gilded age.
He obtained his
B.A. in Economics at
Carleton College (1880), under
John Bates Clark, a leading economist in the emerging body of thought now identified as
neoclassical economics. He did graduate work at
Johns Hopkins University under
Charles Sanders Peirce, the founder of the
pragmatist school in
philosophy, and subsequently received his
Ph.D. in (1884) at
Yale University, under the direction of
William Graham Sumner, a proponent of laissez-faire economic policies.
From 1891 to 1892, after six years spent reading voluminously at the family farm where he went to recover from malaria, Veblen continued studying as a graduate student, now in economics, at
Cornell University under
James Laurence Laughlin.
In 1911, Veblen joined the faculty of the
University of Missouri, where he'd support from
Herbert Davenport, the head of the economics department. Veblen wasn't fond of
Columbia, Missouri, but remained there through 1918. In that year, he moved to New York to begin work as an editor of a magazine called The Dial, and then in 1919, along with
Charles Beard,
James Harvey Robinson and
John Dewey, helped found the New School for Social Research (known today as
The New School). He was also part of the
Technical Alliance, created in 1918-19 by
Howard Scott, which would later become the
Technocracy Incorporated. From 1919 through 1926 Veblen continued to write and to be involved in various activities at The New School. . Veblen’s legacy has also been claimed by those involved with technocracy and his work is often cited in treatments of American literature.
Family
Veblen's nephew
Oswald Veblen became a famous
mathematician.
Further Information
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