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What If Marx And Veblen Met…

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  • Bahar Araz Takay
  • Derya Güler Aydın

Abstract

The aim of this study is to analyse both the differences and the similarities between Marx and Veblen regarding historical specificity, evolution, and alienation. Starting with their discussions on these subjects, this article builds on the analyses of capitalism. The goal of this study is not to collapse Marx and Veblen into one another but rather to understand capitalism by presenting the complementary relationship of the two economists’ analyses and to introduce an appropriate analytical framework for understanding capitalism. This study consists of three parts. The first part examines how Veblen regarded Marx’s analysis, and how Marx especially viewed Darwin’s theory of evolution. Marx’s approach to evolution and Veblen’s criticism of Marx on this topic will constitute the general framework of this part. The second part of the study evaluates the level of agreement or disagreement between Veblen and Marx on the idea of historicism from the perspective of dialectical materialism. The last part a alyses Marx and Veblen’s different ideas of the concept of alienation. The two economists’ views on the capitalist system will be determined based on these three concepts, introducing the similarities between them as well as the differences.

Suggested Citation

  • Bahar Araz Takay & Derya Güler Aydın, 2014. "What If Marx And Veblen Met…," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(202), pages 131-156, July – Se.
    • Handle: RePEc:beo:journl:v:59:y:2014:i:202:p:131-156
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    References listed on IDEAS

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    1. Howard Sherman, 1998. "Critique of the Critique: Analysis of Hodgson on Marx on Evolution," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 47-58.
    2. E. K. Hunt, 1979. "The Importance of Thorstein Veblen for Contemporary Marxism," Journal of Economic Issues, Taylor & Francis Journals, vol. 13(1), pages 113-140, March.
    3. Thorstein Veblen, 1908. "On the Nature of Capital," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 22(4), pages 517-542.
    4. Thorstein Veblen, 1906. "The Socialist Economics of Karl Marx and his Followers," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 20(4), pages 575-595.
    5. Stephen Edgell & Jules Townshend, 1993. "Marx and Veblen on Human Nature, History, and Capitalism: Vive la Différence!," Journal of Economic Issues, Taylor & Francis Journals, vol. 27(3), pages 721-739, September.
    6. Thorstein Veblen, 1907. "The Socialist Economics of Karl Marx and his Followers," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 21(2), pages 299-322.
    7. Geoffrey M. Hodgson, 2006. "Economics in the Shadows of Darwin and Marx," Books, Edward Elgar Publishing, number 3925.
    8. John Cummings, 1899. "The Theory of the Leisure Class," Journal of Political Economy, University of Chicago Press, vol. 7, pages 425-425.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The Birth and Growth of Modern Zoning (Part II): The FARsighted Great Depression
      by Jason Barr in Skynomics Blog on 2021-08-09 12:12:48

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    More about this item

    Keywords

    Marx; Veblen; evolution; alienation; capitalism.;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

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