Definitions

1. noun

A unit of measure for the value of a house or other real estate, defined as the amount of goods that a house can purchase, or the value of the goods that a house can buy.

“The economist used the Veblen to explain the housing market’s sudden shift in prices.”

2. proper noun

Thorstein Veblen, an American economist and sociologist known for his theory of conspicuous consumption.

“Veblen’s ideas about consumer culture continue to influence contemporary sociology.”