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Thorstein Veblen (1857–1929) was an American economist and sociologist renowned for critiquing capitalism and co-founding institutional economics. He joined the New School for Social Research as a core faculty member in 1919, aligning with its progressive ideals of academic independence and interdisciplinary research. Educated at Carleton College, Johns Hopkins University, and Yale, he struggled early in his academic career due to controversial ideas and personal conflicts.
- Educations: Carleton College (BA, 1880), Johns Hopkins University (philosophy studies), Yale University (PhD, 1884).
His research focused on the interplay of institutions and technology, emphasizing how social structures shape economic behavior. Notable theories include conspicuous consumption and trained incapacity. He critiqued universities for prioritizing bureaucracy over scholarship and advocated for academic autonomy. Veblen’s later work explored technocratic solutions to capitalism, influencing socialist thought. Despite his academic challenges—such as being fired from Stanford for personal misconduct—his ideas remain foundational in institutional economics and cultural critique.
His publications challenged traditional economic assumptions, arguing for evolutionary and sociological perspectives. Though no formal awards are noted, his enduring legacy includes shaping the New School’s ethos and inspiring critiques of consumerism and inequality.
