Terri Barnes

Terri Barnes

The Theory of the Viking Leisure Class

Supervisors

Professor Alex Sanmark and Dr Shane McLeod

Research Abstract

Terri’s research applies Thorstein Veblen’s theory of institutional economics to re-evaluate the causes of the Viking Age in Scandinavia.

Her study investigates the evolution of socio-economic structures in Scandinavia from AD 500-900 to show that the Viking Age was not a sudden burst of activity but a calculated expansion of successful economic practices, driven by sophisticated entrepreneurs and long-term thinkers primarily among the warrior elite, whom Veblen called a “leisure class”. Their accomplishment was part of a long, slow evolution where both Scandinavians and their institutions developed to facilitate viking success. For this reason, Veblen considered the vikings to be an early experiment in creating one of the world’s first business trusts, akin to a modern corporation. This research addresses the understudied convergence of economic and social conditions crucial to the creation and expansion of that Scandinavian Viking Age endeavour.

Biography

Terri is a medieval historian based in Portland, Oregon, USA. She is currently a PhD student at the Institute for Northern Studies, University of the Highlands and Islands. She is also faculty in the History department at Portland Community College and also taught at Portland State University. Her focus is on the pre- and early-Viking Age in Scandinavia from an institutional approach.