Thorstein Veblen's suggestion in 1918 that by doing any undergraduate training at all the university was in danger of becoming a body of secondary-school teachers masquerading as something much grander has not lost its sting.
Economist and social critic Thorstein Veblen took a crack at it in The Theory of the Leisure Class, the 1899 classic that wryly posited the theory of "conspicuous consumption, " his phrase for keeping up with the Joneses.