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Term: Thorstein Veblen

Description:

Thorstein Veblen, an American economist and sociologist, was one of the prominent figures in the field of institutional economics. He is best known for his groundbreaking work on the theories of conspicuous consumption and the leisure class. Veblen's critical analysis of capitalism and his emphasis on the role of social and cultural factors in economics made a lasting impact on the discipline.

Senses:

Sense 1: Noun

(Sociology) A prominent American economist and sociologist, known for his theories of conspicuous consumption and the leisure class.

Example Sentence: Thorstein Veblen's book "The Theory of the Leisure Class" is considered a classic in the field of sociology.

Sense 2: Adjective

(Descriptive) Pertaining to the economic and sociological theories of Thorstein Veblen.

Example Sentence: The Veblenian perspective provides a unique understanding of consumer behavior in modern society.

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