Word: thorstein
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Dates: during 1970-1979
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...Thorstein Veblen would have been proud last Saturday night when WGBH-TV, the Cambridge Public Broadcasting System affiliate, auctioned off the distinctive purple-and-gold 1976 Cadillac Eldorado convertible that the Harvard Lampoon last year awarded John Kenneth Galbraith, Warburg Professor of Economics Emeritus...
...THORSTEIN VEBLEN...
Economist Thorstein Veblen, Historian Charles Beard and Philosopher John Dewey founded it in a few Manhattan brownstones. Their aim: enlivening traditional learning. From the start, they succeeded. In the 1920s, the school offered the first college-level courses on black culture, taught by W.E.B. DuBois; in the '30s Martha Graham taught pioneering classes in modern dance...
...Thorstein Veblen invested in an oil stock a few years before his death in 1929. What happened to his investment...
...will not argue that the American pie has perhaps been expanding over the last century, but it is yet to be proven that this economic expansion is attributable to, or in spite of the grapplings of the new upwardly mobile business elite. Perhaps Thorstein Veblen had a better understanding of the workings of a capitalist-industrial economy when he detailed the anti-social nature of business. In Veblen's view, business is forced by its basic orientation of profit-seeking into a policy of "sabotage" of production. It must fight against the "inordinate productivity of the machine" by keeping prices...