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Thorstein Bunde Veblen (1857-1929) was an American economist who studied institutions and criticized [[neoclassical economics]].

'''Thorstein Bunde Veblen''' (1857-1929) was an American economist who studied institutions and criticized [[neoclassical economics]].

Veblen insisted that customs played a prominent role in shaping economic behavior, and that social institutions are very influential over economics.  He was a prolific writer, and his most famous work was his first:  ''The Theory of the Leisure Class'' (1899).  There he coined the term "[[conspicuous consumption]]" in order to describe the "leisure class."

Veblen insisted that customs played a prominent role in shaping economic behavior, and that social institutions are very influential over economics.  He was a prolific writer, and his most famous work was his first:  ''The Theory of the Leisure Class'' (1899).  There he coined the term "[[conspicuous consumption]]" in order to describe the "leisure class."