"The Theory of the Leisure Class" by Thorstein Veblen is a groundbreaking work in economic and social theory. Published in 1899, this book offers a critical analysis of the social and economic structures of the late 19th-century capitalist society.
Veblen introduces the concept of "conspicuous consumption," highlighting how the leisure class, or those who do not engage in productive labor, engage in the display of wealth and status through extravagant spending. His incisive commentary delves into the social functions of wealth and leisure, examining how they are used to denote status within different social classes.
Veblen's work challenges traditional economic views, presenting a satirical and insightful critique of consumerism and the social stratification it creates. This seminal book is not just an economic study but a cultural critique that remains relevant in understanding the dynamics of wealth, class, and consumer culture in modern society.