Word: veblenism
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...INNOCENTS AT CEDRO: A MEMOIR OF THORSTEIN VEBLEN AND SOME OTHERS
-Robert L Duffus-
...depend on draft-age students, was booming despite the war, hoped to exceed its 1936 record of 4,034 registrants. The school had come a long way from its small, but distinguished, beginnings. Among the founders in 1919 was no less a quartet than James Harvey Robinson, Thorstein Veblen, Charles Austin Beard and John Dewey. To get the academic dust out of their lungs they set up their own school in a musty Victorian house in New York's Chelsea district. In 1922 Johnson took over the institution...
...Gentle, affable, pink-eyebrowed Oswald Veblen (nephew of the late great economist-sociologist Thorstein Bunde Veblen) is doing a war job for the Government, having temporarily ceased working on spinors. Asked for a simple, lay definition of spinors, the mathematician shrugged and smiled. He has left behind topology, which he defines simply as "the theory of the properties of a body which are unchanged when you make any continuous deformation...
...Veblen's Theory of Business Enterprise and Theory of the Leisure Class...
...other things being equal" is to the economist what blinders are to a horse--a means of getting somewhere without having to pay attention to the scenery en route. A good many modern economists still wear these blinders. But since Veblen and Keynes economic theory has realized that the dismal science has no more social justification than a cross-word puzzle unless it applies its tools of analysis to actual problems and turns out answers which are not only theoretically sound but useful in the real world...