Thorstein Veblen

=Key points in biography=

Born in 1857 in Wisconsin as a son of Norwegian immigrants. After years of poverty and hardship his family managed to build a modest family farm.

=Contributions to Sociology=

Veblen most harshly criticized a group of society he referred to as the leisure class. Even though efficient mechnanized production would be capable of providing everyone with a high living standard, most of the products go to waste due to the private quest for profits by the business leaders. He maintained that the state of a society's technological development forms the foundation for its schemes of thought. He, furthermore, analyzed the conflict between business (those who make money) and industry (those who make things). However, most important for sociology were two concepts Conspicuous consumption: the waste of money practiced by all classes to improve their self-esteem and their status in society. Conspicuous leisure: the waste of time practiced by all classes to improve their self-esteem and their status in society.