The Higher Learning in America

Thorstein Veblen was an American economist and sociologist. He is well known as a witty critic of capitalism. Veblen is famous for the idea of "conspicuous consumption." Conspicuous consumption, along with "conspicuous leisure," is performed to demonstrate wealth or mark social status. Veblen explains the concept in his best-known book, The Theory of the Leisure Class. Within the history of economic thought, Veblen is considered the leader of the institutional economics movement. Veblen's distinction between "institutions" and "technology" is still called the Veblenian dichotomy by contemporary economists. In the beginning of his academic career Veblen had difficulties obtaining a university position, whether because he was discriminated for being Norwegian, or openly identified as an agnostic. These difficulties later inspired him to write The Higher Learning in America. In this book he claimed that true academic values were sacrificed by universities in favor of their own self-interest and profitability._x000D_

Thorstein Veblen (1857–1929), an American economist and sociologist, was an insightful critic of capitalism and its cultural implications. He emerged from a Norwegian immigrant background to become one of the most provocative and influential thinkers of his time. Veblen studied at Carleton College, Johns Hopkins University, and Yale University, earning his Ph.D. in Philosophy in 1884. His academic career was not without controversy, leading to a series of short tenures at various universities. Veblen's erudite writing carried a heavy emphasis on the social implications of economic practices, most notably the concept of 'conspicuous consumption,' a term he coined in his seminal book 'The Theory of the Leisure Class' (1899). Another significant contribution to the field of education is 'The Higher Learning in America' (1918), where Veblen critiqued the burgeoning corporate influence over academic institutions and their detrimental effect on intellectual freedom and scientific inquiry. His work often displayed a disenchanted view of economic institutions, critiquing their evolution not as logical or efficient outcomes but rather as developments shaped by vested interests and cultural biases. Veblen's legacy is enduring; his sharp observations of economic and social phenomena remain relevant, resonating with contemporary sociological and economic thought.