Education in Veblen's Leisure Class Theory, Modern Manifestations and Theoretical Discourses

Nikita Belavin | HSE Lyceum/Sciences Po |

Abstract

Economists have always strived to study the reasons why people pursue education. From Veblen’s “Theory of the Leisure class” to Spence’s theory of signaling, different hypotheses were being put out in order to be able to explain the economic forces behind education. In this paper, however, the goal will be to review Torstein Veblen’s explanation of higher education as a reflection of idle consumption, evaluate its logic as well as assess its relevance by comparing it to the modern world.

Education in Veblen's Leisure Class Theory, Modern Manifestations and Theoretical Discours

.

Download • 131KB