Word: thorstein
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...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...
...close of the century, Economist Thorstein Veblen could already indict those gods for both "conspicuous consumption of valuable goods" and, more significantly, "conspicuous wastefulness." In the Twentieth Century, consumption and waste seemed wedded, the nuptials attended by such as Thomas Edison and Henry Ford, whose profligate inventions spurred cheap consumption. Even the Great Depression could not shake the habits of acquisition. F.D.R.'s reference to "the more abundant life" was too enticing to examine. So were the now forgotten promises of the Fair Deal, the New Frontier and the Great Society...
...THORSTEIN VEBLEN in his The Theory of the Leisure Class says that the status of women is the best index of a society's values. Simone de Beauvoir plugs the status of old people into the same thesis. On this basis she condemns all contemporary societies by virtue of the maladjustment...
...Capitalism had changed in many ways from Marx's day. In the modern industrial system technocrats were far more essential in the industrial process than unskilled workers (an ever diminishing percentage of the work force). These college trained workers could form the basis for a revolutionary movement (shades of Thorstein Veblin). The only problem with the NWC, as its critics pointed out, was that its members were better rewarded and more loyal to the system than anyone else...