Thorstein Veblen: Economist and Social Theorist

In his latest book, scholar-historian Murray G. Murphey exhaustively explores the life and theory of Thorstein Veblen (18571929), whom, many scholars agree, remains one of the leading social theorists of all time, if not also one of the more confounding. Murpheys account begins with a brief economic history of nineteenth-century America, wherein he examines the conditions that formed Veblens ideology. With that understanding, the author studies Veblens personal history and brings to the fore his foundational ideas on human psychology, race, his theory of knowledge, and his analysis of social evolution. In the books later chapters, Murphey considers Veblens writing through the scope of his major volumes The Theory of the Leisure Class, The Theory of Business Enterprise, and Imperial Germany and the Industrial Revolution, among others.

Spanning the latter stages of the nineteenth century into the first several decades of the twentieth century, Murphey traces Veblens radical economics and thinking within the broader context of Americas economic theory. In so doing, he upholds Veblens influence on the canons of economics and social science, and importantly, he attempts to resolve the lingering mystery behind one of Americas more puzzling and influential theorists.