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The Engineers And The Price System Hardcover – May 23, 2010
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Writing with an incisive, direct, and unencumbered prose style, Veblen's views, in broad outline, are surprisingly uncomplicated and easy to understand. Moreover, they can be applied to any modern capitalist economy. Veblen, however, rarely used the term capitalism, preferring to refer to Absentee Ownership, Vested Interests, and the Price System as descriptively better suited to the kind of economic system he was discussing. Nevertheless, there can be no doubt that the mode of economic organization he engaged in an adversarial manner was capitalism, with the emphasis shifted from the capital/labor dichotomy preferred by Marx to the split between The Business System and The Industrial System.
It was Veblen's contention that modern technology, as embodied in The Industrial System, could, in principle, function in an almost boundlessly productive fashion.Read more ›