Veblen's ideas and theories have exerted a strong and far-reaching influence on critical views of economics, government, sociology, education, and literature. Many of his coinages are now a part of the modern idiom. Veblen's analyses continue to inspire new generations who adapt Veblenian insights anew to current issues, such as in finance, technology, economic globalization, consumer theory, cultural studies, and women's studies.
The sixth of twelve children, Thorstein Bunde Veblen was born 30 July 1857 on a farm in Manitowoc County, Wisconsin, to Norwegian immigrant parents, Thomas Anderson Veblen and Kari Bunde. Their 160-acre farm prospered under the labors of Thomas, a master carpenter, and his brother, Haldor. The Veblen elders, however, felt culturally isolated and commercially exploited among German and Yankee neighbors. In addition, they were concerned about their children's prospects. Noting the more promising conditions in Rice County, Minnesota, during a visit there in 1864, Thomas ventured to purchase a prairie farm near the budding country town of Nerstrand. In Rice County there was a flourishing Norwegian community as well as access to American schools. Notably, Thomas designed and built the farmhouse with a large combined parlor and dining room, creating space for the big family to gather and talk while doing handicrafts after dinner.
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