“The changing styles are the expression of a restless search for something which shall commend itself to our aesthetic sense; but as each innovation is subject to the selective action of the norm of conspicuous waste, the range within which innovation can take place is somewhat restricted. The innovation must not only be more beautiful, or perhaps oftener less offensive, than that which it displaces, but it must also come up to the accepted standard of expensiveness.”
Quote by Thorstein Veblen
Work
A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism
Drawing from Veblen's foundational work on the theory of the leisure class, this collection delves into the critical analysis of how conspicuous consumption and status-seeking behaviors shape economic systems. The book examines Veblen's perspectives on the relationship between industrial production and financial interests, particularly his observations about how business enterprises pursue profit maximization through practices that may not align with broader social welfare. The analysis extends to Veblen's insights on the role of price-setting and the tension between making goods and making money, exploring how these dynamics influence economic stability and conflict. Throughout the work, Veblen's critique of the capitalist system and its inherent contradictions provides a framework for understanding broader economic behaviors and their social implications. more
Author
Thorstein Veblen
Thorstein Veblen was an American economist known for his sociological perspective on economics and his critical analysis of economic theories. His work, 'The Theory of the Leisure Class,' had a profound impact on later economics and sociology. more
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Source: BUSINESS & ECONOMICS Premium Collection: 25+ Titles in One Volume: The Theory of Business Enterprise, The Higher Learning in America, The Vested Interests and the Common Man, On the Nature of Capital…: The Theory of the Leisure Class, The Beginning of Ownership, The Preconceptions of Economic Science, The Industrial System and the Captains of Industry, The Socialist Economics of Karl Marx…
Source: A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism
Source: A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism
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