Which 1899 book by Thorstein Veblen that originated the phrase 'conspicuous consumption' is considered one of the first detailed critiques of consumerism?
Thorstein Veblen with the Idle Rich". Thorstein Veblen Thorstein Bunde Veblen (; born Torsten Bunde Veblen; July 30, 1857 – August 3, 1929) was an American economist and sociologist who became famous as a witty critic of capitalism. Veblen is known for the idea of "conspicuous consumption". People engage in conspicuous consumption, along with "conspicuous leisure", to demonstrate wealth or to mark social status - Veblen explains the concept in his best-known book, "The Theory of the Leisure Class" (1899). Historians of economic thought regard Veblen as the leader of the institutional economics movement. Contemporary economists still call Veblen's distinction between "institutions"
Consumerism even waste creatively". The older term and concept of "conspicuous consumption" originated at the turn of the 20th century in the writings of sociologist and economist, Thorstein Veblen. The term describes an apparently irrational and confounding form of economic behaviour. Veblen's scathing proposal that this unnecessary consumption is a form of status display is made in darkly humorous observations like the following: The term "conspicuous consumption" spread to describe consumerism in the United States in the 1960s, but was soon linked to debates about media theory, culture jamming, and its corollary productivism. Madeline Levine criticized what she saw as a