Thorstein Veblen and the Revival of Free Market Capitalism

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Janet T. Knoedler, Robert E. Prasch, Dell P. Champlin
Edward Elgar Publishing, 2007 M01 1 - 264 páginas
The volume offers many interesting hints on which the reader may have cause to reflect. Tiziana Foresti, History of Economic Ideas With the restoration of laissez faire as the governing principle of contemporary economic ideology and policy making, Thorst

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Contenido

progress pragmatism pluralism
1
2 Thorstein Veblen on the origins and meaning of private property
17
3 Capital and the modern corporation
31
their role and effects
69
5 Veblens missing theory of markets and exchange or can you have an economic theory without a theory of market exchange?
87
6 Some myths of Veblenian institutionalism
127
economics raised to the cultural level
148
8 Veblen on higher education
155
9 Thorstein Veblen and the sabotage of democracy
170
agents of change
202
Index
229
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Página 93 - They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species.
Página 92 - The poor man's son, whom heaven in its anger has visited with ambition, when he begins to look around him, admires the condition of the rich. He finds the cottage of his father too small for his accommodation, and fancies he should be lodged more at his ease in 227 a palace.
Página 89 - This division of labour, from which so many advantages are derived, is not originally the effect of any human wisdom, which foresees and intends that general opulence to which it gives occasion. It is the necessary, though very slow and gradual, consequence of a certain propensity in human nature which has in view no such extensive utility: the propensity to truck, barter, and exchange one thing for another.
Página 24 - The motive that lies at the root of ownership is emulation; and the same motive of emulation continues active in the further development of the institution to which it has given rise and in the development of all those features of the social structure which this institution of ownership touches. The possession of wealth confers honour; it is an invidious distinction.
Página 92 - It is then, in the last dregs of life, his body wasted with toil and diseases, his mind galled and ruffled by the memory of a thousand injuries and disappointments which he imagines he has met with from the injustice of his enemies, or from the perfidy and ingratitude of his friends, that he begins at last to find that wealth and greatness are mere trinkets of frivolous utility, no more adapted for procuring ease of body or tranquillity of mind than the tweezer-cases of the lover of toys...
Página 93 - They consume little more than the poor ; and in spite of their natural selfishness and rapacity, though they mean only their own conveniency, though the sole end which they propose from the labours of all the thousands whom they employ be the gratification of their own vain and insatiable desires, they divide with the poor the produce of all their improvements.
Página 35 - Wherever manual dexterity, the rule of thumb, and the fortuitous conjunctures of the seasons have been supplanted by a reasoned procedure on the basis of a systematic knowledge of the forces employed, there the mechanical industry is to be found, even in the absence of intricate mechanical contrivances.
Página 89 - Whether this propensity be one of those original principles in human nature of which no further account can be given; or whether, as seems more probable, it be the necessary consequence of the faculties of reason and speech, it belongs not to our present subject to inquire.
Página xvi - The existing system has not made, and does not tend to make, the industrious poor poorer as measured absolutely in means of livelihood; but it does tend "to make them relatively poorer, in their own eyes, as measured in terms of comparative economic importance," and, curious as it may seem at first sight, that is what seems to count.

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