Question 1

True or false: Thorstein Veblen coined the term 'conspicuous consumption' in his book *The Theory of the Leisure Class*.

Accepted Answer

True. Veblen introduced this phrase in 1899 to describe lavish spending aimed at displaying social status, not need.

Question 2

True or false: Veblen was a strong supporter of industrial capitalism and free markets throughout his career.

Accepted Answer

False. He was a sharp critic of capitalism, favoring engineers and industrial efficiency over business profits and waste.

Question 3

True or false: Veblen refused a teaching position at the University of Chicago because he disliked the city.

Accepted Answer

False. He actually taught at the University of Chicago from 1892 to 1906, though he found its academic politics stifling.

Question 4

True or false: Veblen’s concept of 'conspicuous leisure' refers to visible nonproductive time as a status symbol.

Accepted Answer

True. He argued that avoiding useful work, such as through hobbies or study, signals wealth and refinement to others.

Question 5

True or false: Veblen served as an economic advisor to President Woodrow Wilson during World War I.

Accepted Answer

True. He worked briefly for the U.S. Food Administration and later the Peace Commission, though his radical views often clashed with officials.

Question 6

True or false: Veblen was a lifelong bachelor who never married or had children.

Accepted Answer

False. He married twice: first to Ellen Rolfe (divorced) and later to Ann Bradley. He also had stepchildren.

Question 7

True or false: Veblen’s *The Theory of the Leisure Class* was an immediate bestseller and widely praised by critics.

Accepted Answer

True. Surprisingly, it sold well and was reviewed positively, though his later work was less popular and more controversial.

Question 8

True or false: Veblen believed that technological progress would inevitably lead to a utopian socialist society.

Accepted Answer

False. He was skeptical of utopianism; he thought engineers could improve efficiency but didn't predict inevitable socialism.

Thorstein Veblen Trivia Questions