The Theory of the Leisure Class (Illustrated) by Thorstein Veblen

The Theory of the Leisure Class (Illustrated)

byThorstein Veblen

Kobo ebook | September 19, 2014

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Thorstein Veblen is a great American economist along with Irving Fisher, Henry George, and John Bates Clark in many economic thoughts for combining a Darwinian evolutionary perspective with his new institutionalist approach to economic analysis. He developed a 20th-century evolutionary economics based upon Darwinian principles and new ideas emerging from anthropology, sociology, and psychology. Veblen’s important works includes The Theory of the Leisure Class and The Theory of Business Enterprise.

The Theory of the Leisure Class proposes that economic life is driven by the social stratification of tribal society. This view links him to Karl Marx. However, his views on socialism are different from that of Karl Marx. Marx saw communism as the ultimate goal for civilization and saw the working class as the group that would establish it. Veblen saw socialism as one intermediate phase in an ongoing evolutionary process in society that would be brought about by the natural decay of the business enterprise system and by technology advance (“inventiveness of engineers”).

Veblen also contributed theoretical foundation and later helped found the Technocracy movement. He predicted that technological developments would eventually lead toward a socialistic organization of economic affairs.

Arab Spring is a sound example for his prediction. Social media that is driven by Internet and information can help individuals form a connected strength to change social system in a powerful and effective way.

This book is for the readers who are interested in analyses of business cycles and prices, and of the emergent technocratic division of labor by specialty including scientists, engineers, and technologists.




Title:The Theory of the Leisure Class (Illustrated)Format:Kobo ebookPublished:September 19, 2014Publisher:AS TeamLanguage:English

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