Thorstein Veblen, an American economist and sociologist who became well-known during his lifetime as a critic of capitalism, is best known for his first and most well-known work, "The Theory of the Leisure Class." Veblen exposes the hollowness of many of our standards of taste, education, fashion, and culture in this book while also challenging some of society's most revered standards of conduct. Veblen offers the leisure class as an example since it is this class that establishes the norms that are adhered to at all social strata.
Exemption from industrial labour is a sign of belonging to the leisure class, and extravagant spending is a symbol of success. He used the phrase "conspicuous consumption" to characterise things that satisfy no genuine needs but are nonetheless seen to be luxurious.
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