A Veblen good is a product that challenges conventional economic theory. Normally, when the price of something increases, demand tends to drop. But for Veblen goods, the opposite occurs — demand ...
THE INNOCENTS AT CEDRO: A MEMOIR OF THORSTEIN VEBLEN AND SOME OTHERS —Robert L Duffus—<Macmillan ($2). Robert L. Duffus, of the New York Times editorial staff, is a highly competent journalist and a ...
T he social theorist and economist Thorstein Veblen, best remembered today for The Theory of the Leisure Class (1899), was born in 1857 to a family of Wisconsin farmers who had emigrated from Norway.
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