Thorstein Veblen and the Revival of Free Market Capitalism PDF Download

Author: Janet T. Knoedler
Publisher: Edward Elgar Publishing
ISBN: 1847207073
Category : Business & Economics
Languages : en
Pages : 262

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Book Description
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, Thorstein Veblen s insights are once again timely. This book revisits his legacy, featuring original essays by renowned Veblen scholars. The contributors review and comment upon the subjects that concerned Veblen such as: the legal system, finance and capital, the operation of markets, neoclassical economics, private property, cultural and economic change, the place of science, and higher education. They consider how his evolutionary theory of the economy and society can continue to inform our understanding of our modern world. As an astute and highly capable observer, Veblen shed light on our present system through a re-examination of a similar system. Students and scholars of economics will find this provocative book of great interest. It will also be a refreshing discussion for those frustrated by the gap between the rosy scenarios of conventional economics and the problems of inequality, conspicuous consumption, concentrated economic power and unresponsive government.

Author: Sidney Plotkin
Publisher: Anthem Press
ISBN: 1783082828
Category : Political Science
Languages : en
Pages : 288

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Book Description
Amidst the global financial and political crises of the late twentieth and early twenty-first centuries, scholars have turned for insight to the work of the radical American thinker, Thorstein Veblen. Inspired by an abundance of new research, social scientists from multiple disciplines have displayed a heightened appreciation for Veblen’s importance and value for contemporary social, economic and political studies. The Anthem Companion to Thorstein Veblen is a stimulating addition to this new body of scholarship, offering fresh material for ongoing reconsiderations of Veblen as a major theoretical resource for present-day debates on epistemology, social evolution, values, higher education, capitalist development and politics.

Author: Erik S. Reinert
Publisher: Anthem Press
ISBN: 1783083204
Category : Business & Economics
Languages : en
Pages : 392

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Book Description
After his death Thorstein Veblen was hailed as ‘America’s Darwin and Marx’ and is normally portrayed as the perennial iconoclast. He severely criticised traditional economics and attempted to create an alternative approach based on a much more complex view of human beings. He is one of the most celebrated economists of our age and has been the inspiration for many books; the predatory version of capitalism we now again experience, the phenomenon of studying cultures of consumption and the darker sides of gilded ages can be traced back to Veblen. A conference in Veblen’s ancestral Norway marked the 150th anniversary of his birth. The aim of the conference was to consolidate Veblen scholarship and evaluate his relevance for the problems of today. This collection offers the results of that endeavour; it is a milestone of Vebleniana which assesses all the most salient aspects of his life and influence. Many of its contributors also push into uncharted territory, examining the man and his work from new and necessary perspectives hitherto ignored by scholarship.

Author: Sidney Plotkin
Publisher: Yale University Press
ISBN: 0300159994
Category : Social Science
Languages : en
Pages : 289

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Book Description
Thorstein Veblen is best known for his authorship of The Theory of the Leisure Class and The Theory of Business Enterprise, which made him a celebrated figure in the fields of economics and sociology at the turn of the twentieth century. In this book, Sidney Plotkin and Rick Tilman argue that in addition to his well-known work in these fields Veblen also made important—and until now overlooked—statements about politics. While Veblen's writings seldom mention politics, they are saturated with political ideas: about the relationship among war, executive power, and democracy; about the similarities between modern executive positions and monarchy; about the political influence of corporate power; about the symbolism of politics; and about many other issues. By demonstrating the deep relevance of Veblen's writings to today's political troubles, The Political Ideas of Thorstein Veblen offers an important reconsideration of a major American thinker.

Author: Giorgos Argitis
Publisher: Routledge
ISBN: 1351670689
Category : Business & Economics
Languages : en
Pages : 223

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Book Description
Thorstein Veblen and Hyman Minsky are seminal thinkers who place great importance on the interaction between processes that link finance and financial markets with economic and social evolution. This book makes a contribution to the recontextualisation of the habitual, non-evolutionary and laissez-faire macroeconomic theory and policy, thus exposing the relevant contribution of the macro-theories of Veblen and Minsky. The book starts with an elucidation of Veblen’s cultural theory of insufficient private demand, waste and financial fragility and instability. It shows how speculative and parasitic leverage engenders solvency illusions and risk, pecuniary efficiency, low quality liability structures and socially destructive boom-bust cycles. Minsky’s creative destruction liquidity processes and coordination failures of cash flow escalate the aforementioned path-dependent developments and explosive dynamics of capitalist economies. The main themes of the book are the cultural, evolutionary and holistic vision of macroeconomics, the evolving habits of mind, routines and financial institutions, the speculative, manipulated and unstable financial markets, as well as the financial macroeconomic destabilizing effects of pecuniary and parasitic consumption and investment. This book will be of great interest to researchers, intellectuals and students pursuing economics and finance.

Author: Albrecht Fritzsche
Publisher: Springer
ISBN: 3319910299
Category : Philosophy
Languages : en
Pages : 300

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Book Description
In a world permeated by digital technology, engineering is involved in every aspect of human life. Engineers address a wider range of design problems than ever before, raising new questions and challenges regarding their work, as boundaries between engineering, management, politics, education and art disappear in the face of comprehensive socio-technical systems. It is therefore necessary to review our understanding of engineering practice, expertise and responsibility. This book advances the idea that the future of engineering will not be driven by a static view of a closed discipline, but rather will result from a continuous dialogue between different stakeholders involved in the design and application of technical artefacts. Based on papers presented at the 2016 conference of the forum for Philosophy, Engineering and Technology (fPET) in Nuremberg, Germany, the book features contributions by philosophers, engineers and managers from academia and industry, who discuss current and upcoming issues in engineering from a wide variety of different perspectives. They cover topics such as problem solving strategies and value-sensitive design, experimentation and simulation, engineering knowledge and education, interdisciplinary collaboration, sustainability, risk and privacy. The different contributions in combination draw a comprehensive picture of efforts worldwide to come to terms with engineering, its foundations in philosophy, the ethical problems it causes, and its effect on the ongoing development of society.

Author: Robert M. Whaples
Publisher: Edward Elgar Publishing
ISBN: 1782545336
Category : Business & Economics
Languages : en
Pages : 209

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Book Description
'If there is a single message that emerges from the wonderful essays contained in this volume, it is that economics is hard. The fact that virtually all economists agree on a handful of simple truths that describe the marketplace belies the fact that, when push comes to shove, dynamic economic processes are notoriously difficult to understand and control. The Economic Crisis in Retrospect provides the reader with a window into how some of the most perceptive economic thinkers of the last two centuries have wrestled with these issues.' Steven G. Medema, University of Colorado, US 'When the financial crisis hit, Ben Bernanke defended the economics profession by arguing that economists such as Bagehot and Thornton had a complete analysis of financial crises. Unfortunately, until the crisis hit, most economics students had never heard of, let alone read, either. That's sad, and this book provides an excellent entrée into past economists' insights and how they relate to the financial crisis. It is a useful read.' David C. Colander, Middlebury College, US 'With apologies to Santayana. . . this excellent work shows that those who can remember past economic thought are condemned to repeat the insights of major economic thinkers and show their relevance by applying them to contemporary economic issues.' Steven Pressman, Monmouth University, US As the United States continues its slow recovery from the global financial crisis of 2008, politicians, policymakers and academics are increasingly turning to the lessons of history to gain insight into how we might address both current and future economic challenges. This volume offers contributions by eminent economists and historians, each commenting on the theories of a particular 20th century economist and the ways in which those theories apply to modern economic thought. Presented in rough chronological order of the lives of the featured economists, these chapters tackle a number of major economic issues, including the role of central banks, monetary and fiscal policy, government spending, entrepreneurship and financial innovation. The contributors apply the theories of Walter Bagehot, Thorstein Veblen, John Maynard Keynes, Joseph Schumpeter and Friedrich Hayek to these and other crucial topics, offering both comprehensive historical analysis and vital insights into the modern US and world economies. Two additional chapters on the Great Depression and US monetary and fiscal history round out this critical collection. Students and professors of all economic disciplines will find much to admire in this fascinating volume, as will anyone with an interest in economics both past and present.

Author: Tim Rogan
Publisher: Princeton University Press
ISBN: 0691191492
Category : History
Languages : en
Pages : 276

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Book Description
A fresh look at how three important twentieth-century British thinkers viewed capitalism through a moral rather than material lens What’s wrong with capitalism? Answers to that question today focus on material inequality. Led by economists and conducted in utilitarian terms, the critique of capitalism in the twenty-first century is primarily concerned with disparities in income and wealth. It was not always so. The Moral Economists reconstructs another critical tradition, developed across the twentieth century in Britain, in which material deprivation was less important than moral or spiritual desolation. Tim Rogan focuses on three of the twentieth century’s most influential critics of capitalism—R. H. Tawney, Karl Polanyi, and E. P. Thompson. Making arguments about the relationships between economics and ethics in modernity, their works commanded wide readerships, shaped research agendas, and influenced public opinion. Rejecting the social philosophy of laissez-faire but fearing authoritarianism, these writers sought out forms of social solidarity closer than individualism admitted but freer than collectivism allowed. They discovered such solidarities while teaching economics, history, and literature to workers in the north of England and elsewhere. They wrote histories of capitalism to make these solidarities articulate. They used makeshift languages of “tradition” and “custom” to describe them until Thompson patented the idea of the “moral economy.” Their program began as a way of theorizing everything economics left out, but in challenging utilitarian orthodoxy in economics from the outside, they anticipated the work of later innovators inside economics. Examining the moral cornerstones of a twentieth-century critique of capitalism, The Moral Economists explains why this critique fell into disuse, and how it might be reformulated for the twenty-first century.

Author: Rudi Verburg
Publisher: Routledge
ISBN: 1351977792
Category : Business & Economics
Languages : en
Pages : 216

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Book Description
Since 2008, profound questions have been asked about the driving forces and self-regulating potential of the economic system, political control and morality. With opinion turning against markets and self-interest, economists found themselves on the wrong side of the argument. This book explores how the past of economics can contribute to today’s debates. The book considers how economics took shape as philosophers probed into the viability of commercial society and its potential to generate positive-sum outcomes. It explains how dreams of affluence, morality and happiness were built upon human greed and vanity. It covers the bumpy road of the construction and reconstruction of this dream, exploring the debate on the foundations, conditions and limitations of the idea of the social utility of greed and vanity. Revisiting this debate provides a rich source of ideas in rethinking economics and the basic beliefs concerning our economic system today.

Author: Iain Hay
Publisher: Edward Elgar Publishing
ISBN: 0857935690
Category : Social Science
Languages : en
Pages : 241

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Book Description
ÔGlobalization, it seems, has propelled the worldÕs uber-wealthy to new heights of power and money, with tremendous repercussions for the other 99.9 percent of us. At a time when neoliberalism has propelled the world into a new Gilded Age, with rising inequality everywhere, an aggressive class war being waged by the wealthy, and billionaires inserting themselves bluntly into the political arena, understanding the behavior and spatiality of the super-rich has acquired a pressing urgency. This volume offers a richly textured suite of essays concerning how the super-rich have restructured local places, transforming landscapes as varied as London and Kentucky, Ireland and St. Barts, as well as domains as varied as art, thoroughbred horses, and housing.Õ Ð Barney Warf, University of Kansas, US ÔThe worldÕs super-rich, made up of just 11 million people, have access to about US$42.0 trillion of wealth. These are people who each have a spare million of ÒliquidÓ wealth. Their wealth is roughly equal to two thirds of global GDP. They own most of everything. As the editor of this books states Ò. . . library shelves and the pages of journals remain largely devoid of geographical work on the super-rich Ð a startling lacuna this volume sets out to fillÓ. The super-rich now own most of the planet. During the last year their share fell slightly. Times may be changing. Now is the time to begin to study the superÐrich in detail, especially if you are worried about where all the wealth has gone.Õ Ð Danny Dorling, University of Sheffield, UK This timely and path-breaking book brings together a group of distinguished and emerging international scholars to critically consider the geographical implications of the worldÕs super-rich, a privileged yet remarkably overlooked group. Emerging from this unique collection is an enlightening picture of the influence of the super-rich over a diverse range of affairs, extending from the shape of urban and rural landscapes to the future of art history. By concentrating on those at the apex of the economic pyramid, this book provides valuable insights to the institutions, practices and cultural values of our society, as well as allowing us a more comprehensive view of the consequences of global capitalism. Presenting case studies from across the globe Ð from Singapore to St Barts, London to Lexington Ð the spatial and cultural span of the book is wide-ranging and diverse. This truly unique book will prove a fascinating read for academics, researchers and students in the fields of geography, regional and urban studies, sociology, political science and development studies.