The 130-year-old theory that explains Trump and MAGA: Nobel economist - Alternet.org
alternet.org
A Nobel economist argues that Thorstein Veblen's 130-year-old theory of conspicuous consumption and status signaling perfectly explains the psychology driving Trump and MAGA.
Veblen's Theory of the Leisure ClassConspicuous ConsumptionStatus SignalingPopulism
Theory Briefing
- Paul Krugman invokes Veblen's 1899 'Theory of the Leisure Class' to decode the cultural logic behind Trump and MAGA.
- Veblen argued that elites signal status through wasteful display — a framework Krugman applies to modern right-wing identity politics.
- Written at the peak of the Gilded Age, Veblen's theory resurfaces as a lens for today's era of extreme wealth and populist spectacle.