Learning ObjectivesAfter reading this chapter, students should be able to:
- discuss the influence of Karl Marx, the Social Darwinists, and economists such as Adam Smith on Veblen's thought;
- discuss Veblen's ideas about human nature, the industrial arts, cultural lag, and cultural borrowing;
- discuss Veblen's Theory of The Leisure Class, including the concepts of pecuniary emulation, conspicuous leisure, and conspicuous consumption;
- discuss Veblen's ideas about the relation of business to industry; and
- discuss Veblen's critique of the contemporary university.
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