Thorstein Veblen: A Marxist Starting Point
AbstractAs the radical institutionalist literature attests, in spite of methodological differences Marx and Veblen draw strikingly similar conclusions regarding production, conflict, and alienation in modern life. Here we attempt to contribute to this viewpoint by establishing that similarity in conclusion stems from similarity in approach. After reviewing the existing literature on a Marx-Veblen methodological reconciliation, we briefly review Marx's method, making the mediated starting point the focus of discussion. From this vantage point, we then examine Veblen's own approach to analysis in The Theory of Business Enterprise and the conclusions that emerge as they resemble those of Marx. We maintain that in taking a kindred approach Veblen is able to arrive at an understanding of capitalism in accordance with, and complementary to, Marx's rendering of the inverted nature of economic life in modernity.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Economic Issues.
Volume (Year): 46 (2012)
Issue (Month): 3 (September)
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Web page: http://www.mesharpe.com/mall/results1.asp?acr=jei
economic methodology: general; history of economic thought: individuals; institutionalism; Marxism;
Other versions of this item:
- Kirsten Ford & William McColloch, 2011. "Thorstein Veblen: A Marxist Starting Point," Working Paper Series, Department of Economics, University of Utah 2011_11, University of Utah, Department of Economics.
- Eco - Macroeconomics and Monetary Economics - - - - -
- Met - Business Administration and Business Economics; Marketing; Accounting - - - - -
- Gen - Financial Economics - - - - -
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- John F. Henry & L. Randall Wray, 1998.
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