As the Great War raged, Veblen, a leading thinker of his day, pondered just what it would take to create a peaceful world, and what such a world might look like. Veblen’s answer (1917) included a league of peaceful and democratic nations, and the neutralization of Germany as a future military threat.
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Thorstein Veblen (1857-1929) was a U.S. economist whose criticisms of American capitalism and businesses combined Darwinian evolutionary theory with broad sociological principles. The result, known as institutional economics, was extremely influential at the time of the Great Depression. He wrote the classic critique of capitalism The Theory of the Leisure Class.
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