This classic of economic thought is a scathing critique of American snobbery and wastefulness. Chief among the practices that Veblen so wittily satirizes is 'conspicuous consumption', a pattern of behaviour that still flourishes among us.[...]
John Maynard Keynes, at the time a rising young economist, abruptly resigned his position as adviser to the British delegation negotiating the peace treaty ending World War I. Frustrated and angered by the Allies' focus on German war guilt, Keynes predicted that the vindictive reparations policy, wh[...]