Inspired by Barack Obama’s book list, here are my top 10 books that I have read during the past decade, in no particular order. This is quite a hard list to compile because there are so many books. And if such a list is possible, then ten is such an arbitrary number. Nevermind that this […]

When I first read Veblen’s The Theory of the Leisure Class, I found the idea of conspicuous consumption a bit ridiculous. In the book, he argued that individuals consume for the purpose of signalling his wealth. Wealth as a signal evolved from prehistoric social structure. During barbarian times, what Veblen called successful exploits — primarily […]

Veblen introduced some interesting ideas in The Theory of the Leisure Class. My professor seems to insist that Veblen was an early pioneer in the field of signalling. Although Veblen drove his ideas to the extreme to bring in absurd implications that I simply will not buy, there are specific arguments that I find attractive […]