The Engineers and the Price System

The Engineers and the Price System One of the great thinkers of the early th century American economist and sociologist THORSTEIN BUNDE VEBLEN is best remembered for coining the phrase conspicuous consumption But he also

  • Title: The Engineers and the Price System
  • Author: Thorstein Veblen
  • ISBN: 9781596058927
  • Page: 229
  • Format: Paperback
  • One of the great thinkers of the early 20th century, American economist and sociologist THORSTEIN BUNDE VEBLEN 1857 1929 is best remembered for coining the phrase conspicuous consumption But he also, in this 1921 volume, foresaw the rise of the scientist and the technologist as an economic power Here, he explains the conflict between the entrepreneur and the engOne of the great thinkers of the early 20th century, American economist and sociologist THORSTEIN BUNDE VEBLEN 1857 1929 is best remembered for coining the phrase conspicuous consumption But he also, in this 1921 volume, foresaw the rise of the scientist and the technologist as an economic power Here, he explains the conflict between the entrepreneur and the engineer the new power of the technological craftsman in the industrial scheme why any revolution in America would come from organized labor and ALSO FROM COSIMO Veblen s The Vested Interests and the Common Man, The Theory of Business Enterprise, Imperial Germany and the Industrial Revolution, An Inquiry into the Nature of Peace and the Terms of Its Perpetuation, and The Instinct of Workmanship and the State of the Industrial Arts

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    About "Thorstein Veblen"

    1. Thorstein Veblen

      Thorstein born Torsten Bunde Veblen was a Norwegian American economist and sociologist He was famous as a witty critic of capitalism.Veblen is famous for the idea of conspicuous consumption Conspicuous consumption, along with conspicuous leisure , is performed to demonstrate wealth or mark social status Veblen explains the concept in his best known book, The Theory of the Leisure Class 1899 Within the history of economic thought, Veblen is considered the leader of the institutional economics movement Veblen s distinction between institutions and technology is still called the Veblenian dichotomy by contemporary economists.As a leading intellectual of the Progressive Era, Veblen attacked production for profit His emphasis on conspicuous consumption greatly influenced the socialist thinkers who sought a non Marxist critique of capitalism.

    900 thoughts on “The Engineers and the Price System”

    1. Written in 1919, yet as relevant today. Veblen one of best economic thinkers of 19 century in his clear and easy to understand language (even for an economic layman) explains the system which keeps the whole world in calcified inefficiency and waste.To sum it up in his own words: "Politics and investment are still allowed to decide matters of industrial policy which should plainly be left to the discretion of the general staff of production engineers driven by no commercial bias." Amen to that!


    2. Strangely prescient early 20th century heterodox economics treatise on the engineers (aka skilled craftsmen) and the disruptions they could cause in perfect economic models since they are "workers' but are actually more akin to the entrepreneurs, and how they really will own the world and control the company. Witness: internet companies and developers. Me likey. Has a quick section on advertising economics if you happen to be writing a book on advertising and economics. BECAUSE WE ALL ARE>


    3. Thorstein Veblen is one of the most brilliant thinkers in the dissenting institutionalist tradition. Brilliant insight into the functioning of industrial society and the foundation of the modern business and labour worlds. A hypothesis with far reaching implications re: the history of progress (or lack thereof).



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