Definition
'Veblen' often refers to Thorstein Veblen, an American economist and sociologist (1857–1929). His most famous work is 'The Theory of the Leisure Class.' He critiqued consumerism and conspicuous consumption. 'Veblen goods' are items for which demand increases as prices rise. He was a sharp observer of social and economic behavior. Think of him as the original social critic 🧐.