Answer:
Thorstein Veblen was a sociologist who criticized the "leisure class" which is a type of stratified class that categorizes those of the upperclass who have the luxury of being able to spend frivolously and conspicuously without benefitting the economy, or the production of useful goods for the good of society. With using social stratification, Thorstein was able to give a new perspective on those that belong to this class, of which is primarily made up of those who own the means of production, such as business leaders and those of higher means that could spend their money "leisurely" instead of other classes that were more limited in their resources and were directly benefitting and supporting society through their work. This sort of stratification is also reflective of the outdated fuedal societies that also depended heavily upon the labor and contributions of the workers or proletariat.
Explanation:
Thorstein Veblen is an economist and sociologist who lived from 1857 to 1929 . His book, The Theory of the Leisure Class was mad waves in the circle of the economies.
Economists and sociologists often cite in the 80s as a time of extreme consumption. He developed and defined the term conspicuous consumption.
Veblen was referring to the nouveauriche, who went out of their way to make large expenditures in order to purchase their way into a social position that would be respected by upper class families.
Thorstein Bunde Veblen, American economist and social scientist who sought to apply an evolutionary, dynamic approach to the study of economic institutions.
Thorstein Bunde Veblen was a Norwegian-American economist and sociologist who, during his lifetime, emerged as a well-known critic of capitalism.
As a leading intellectual of the Progressive Era in the US, Thorstein Veblen attacked production for profit. His emphasis on conspicuous consumption greatly influenced economists who engaged in non-Marxist critiques of fascism, capitalism, and of technological determinism.
The Theory of the Leisure Class: An Economic Study of Institutions is a work of socio-economic theory written by Thorstein Veblen. First published in 1899, and in modernity by the Modern Library in 2001, the book is a commentary on American economics and society.
The book is still widely appreciated by sociologists and historians, and critics claim that it’s an archetype for modern economic theories.
The Theory of the Leisure Class established that the political economy of a modern society is based upon the social stratification of tribal and feudal societies, rather than upon the merit and social utility and economic utility of individual men and women.
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