John Hively's Reviews > The Theory of the Leisure Class

The Theory of the Leisure Class by Thorstein Veblen
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Jun 24, 11


This is a great read if you have a dictionary handy. Microeconomics is the study of why people purchase stuff. This is the best micro-economic book ever written. I studied micro-economics in college, both on the undergraduate and graduate levels. The theories I studied were stupid, generic marginal utility theories. Those theories told you nothing of why people do things. Veblen's classic was published 111 years ago and it's still light years ahead of the valueless micro-economics being produced at elite universities such as Harvard, Yale and the University of Chicago.

Essentially, it's all about keeping up with the Joneses, something that academic economists have never figured out.
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