Economist and social critic, born in Cato, Wisconsin, USA. Educated
at Carleton College, he took his PhD in philosophy from Yale University
in 1884. Having little use for neoclassical economics, he is best known
for his sharp criticism of modern industrial civilization in such works
as The Theory of the Leisure Class (1899), The Instinct of Workmanship
(1914), Imperial Germany and the Industrial Revolution (1915), The Higher
Learning in America (1918), and Absentee Ownership (1923). He argued in
favour of economics as an evolutionary science, intending an inquiry into
the genesis and growth of economic institutions. His writings drew on history,
psychology, and anthropology, and he had a tendency to devise colourful
phrases such as "conspicuous consumption,' "pecuniary emulation,' and "ostentatious
display.' He found it difficult to secure a permanent teaching job - his
eccentric teaching style and unorthodox personal life led to his dismissal
from both the University of Chicago and Stanford. His last work was practically
indecipherable, and despite a small but loyal following, he died in relative
obscurity in 1929, but his books and ideas have since continued to be widely
cited.