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The 38 selections in the volume include complete texts of all of Veblen’s major articles and book reviews from 1882 to 1914, plus key chapters from his books The Theory of the Leisure Class (1899), The Theory of Business Enterprise (1904) and The Instinct of Workmanship (1914). These writings present a wide range of Veblen’s most significant contributions, especially with respect to the philosophical and psychological foundations of economics, sociology, and other social sciences. A thorougly comprehensive volume, this is the only collection to present Veblen’s writings in chronological order, so that their development can be correctly understood. The volume is edited by a leading sociologist and a prominent economist, who provide extensive introductory essays which include item-by-item commentaries that place each selection in its intellectual-historical context and in relation to subsequent developments in economics. It makes for a valuable source of reference both for students and researchers alike. . General Introduction Part I: The Early Works 1. Introduction 2. ‘Mill’s Theory of the Taxation of Land’ (1882) (Johns Hopkins University Circulars) 3. ‘Kant’s Critique of Judgment’ (1884) (Journal of Speculative Philosophy) 4. ‘Some Neglected Points in the Theory of Socialism’ (1891) (Annals of the American Academy of Political and Social Science) 5. ‘Böhm-Bawerk’s Definition of Capital and the Source of Wages’ (1892) (Quarterly Journal of Economics) 6. ‘The Food Supply and the Price of Wheat’ (1893) (Journal of Political Economy) 7. Review of The Land-Systems of British India by B.H. Baden-Powell (1893) (Journal of Political Economy) 8. Review of Der Parlamentarismus, die Volksgesetzgebung und die Socialdemokratie by Karl Kautsky (1894) (Journal of Political Economy) 9. ‘The Economic Theory of Women’s Dress\" (1894) (Popular Science Monthly) 10. Review of Socialisme et Science Positive by Enrico Ferri (1896) (Journal of Political Economy) 11. Review of Einfuhrung in den Socialismus by Richard Calwer (1897) (Journal of Political Economy) 12. Review of Essais sur la conception matérialiste de l’histoire by Antonio Labriola (1897) (Journal of Political Economy) 13. Review of Die Marxistische Socialdemokratic by Max Lorenz (1897) (Journal of Political Economy) 14. Review of Über einige Grundfragen der Socialpolitik und der Volkswirtschaftslehre by Gustav Schmoller (1898) Journal of Political Economy) 15. Review of Aristocracy and Evolution: A Study of the Rights, the Origins and the Social Functions of the Wealthier Classes by William H. Mallock (1898) (Journal of Political Economy) Part II: The Flowering of Veblenian Theory 16. ‘Why Is Economics Not an Evolutionary Science?’ (1898) (Quarterly Journal of Economics) 17. ‘The Instinct of Workmanship and the Irksomeness of Labor’ (1898) (American Journal of Sociology) 18. The Beginnings of Ownership’ (1898) (American Journal of Sociology) 19. ‘The Barbarian Status of Women’ (1899) (American Journal of Sociology) 20. ‘The Preconceptions of Economic Science,’ Parts I, II, III (1899-1900) (Quarterly Journal of Economics) 21. Review of The Development of English Thought: A Study in the Economic Interpretation of History by Simon N. Patten (1899) (Annals of the American Academy of Political and Social Science) 22. The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions, Chapter 8 (1899) Part III: Critiques and Further Developments 23. Introduction 24. ‘Mr. Cummings’s Strictures on \"The Theory of the Leisure Class\" (1899) Journal of Political Economy) 24. Review of Social Laws: An Outline of Sociology by Gabriel Tarde (1900) (Journal of Political Economy) 25. ‘Industrial and Pecuniary Employments’ (1901) (Publications of the American Economic Association) 26. ‘Gustav Schmoller’s Economics’ (1901) (Quarterly Journal of Economics) 27. Review of Psychologie économique by Gabriel Tarde (1902) (Journal of Political Economy) 28. Review of Der moderne Kapitalismus by Werner Sombart (1903) (Journal of Political Economy) 29. Review of Pure Sociology: A Treatise Concerning the Origin and Spontaneous Development of Society by Lester Ward (1903) (Journal of Political Economy) 30. The Theory of Business Enterprise, Chapter 7 (1904) Part IV: The Penultimate Period 31. Introduction 32. ‘The Place of Science in Modern Civilisation’ (1906) (American Journal of Sociology) 33. ‘The Socialist Economics of Karl Marx and His Followers,’ Parts I & II (1906-07) (Quarterly Journal of Economics) 34. ‘Professor Clark’s Economics’ (1908) (Quarterly Journal of Economics) 35. ‘The Evolution of the Scientific Point of View’ (1908) (University of California Chronicle) 36. ‘On the Nature of Capital I,’ Parts I & II (1908) (Quarterly Journal of Economics) 37. ‘Fisher’s Capital and Income’ & ‘Fisher’s Rate of Interest’ (1908-09) (Political Science Quarterly) 38. ‘The Limitations of Marginal Utility’ (1909) (Journal of Political Economy) 39. ‘The Mutation Theory and the Blond Race’ (1913) (Journal of Race Development) 40. The Instinct of Workmanship, and the State of the Industrial Arts, Chapters 1 & 2 (1914) Epilogue: Veblen’s Writings after 1914 Charles Camic is John Evans Professor of Sociology at Northwestern University. Previously, he was Martindale-Bascom Professor of Sociology at the University of Wisconsin-Madison. Geoffrey M. Hodgson is a Research Professor in Business Studies at the University of Hertfordshire. He is an academician of the Academy of Social Sciences and the author of of over 100 academic journal articles, as well as having written numerous books.

Thorstein Veblen is best known for his authorship ofThe Theory of the Leisure ClassandThe Theory of Business Enterprise, which made him a celebrated figure in the fields of economics and sociology at the turn of the twentieth century. In this book, Sidney Plotkin and Rick Tilman argue that in addition to his well-known work in these fields Veblen also made important-and until now overlooked-statements about politics. While Veblen's writings seldom mention politics, they are saturated with political ideas: about the relationship among war, executive power, and democracy; about the similarities between modern executive positions and monarchy; about the political influence of corporate power; about the symbolism of politics; and about many other issues. By demonstrating the deep relevance of Veblen's writings to today's political troubles,The Political Ideas of Thorstein Veblenoffers an important reconsideration of a major American thinker.

In this study, it is argued that the main failure of mainstream economics is its inability to establish a social ontology and Thorstein Veblen, the founder of the Institutional Economics school, has an important role in establishing this social ontology. Considering the social and economic reality as a closed system, which mainstream economics presupposes in the analysis, is the main reason behind its failure to produce solutions to real world problems. The necessity of an open system ontology is a common issue for heterodox schools of economics that opposes the mainstream. It will be argued that Veblen’s analysis has the ideas that form the basis of this concept. First, the basic elements of the open system approach will be discussed. Then, it will be argued that the elements of the evolutionist approach, the relationship between structure-agent, the rejection of positivism and the cumulative causality in Veblen’s analysis are consistent with the open system approach.

Ao analisar as obras de Celso Furtado, identificam-se similaridades com as teorias de Thorstein Veblen, o que leva a pensar que o último influenciou o primeiro. Contudo, estudos que buscam evidenciar tal influência são escassos. Este estudo busca identificar pontos de aproximação de Furtado com Veblen, bem como analisar seu significado. Assim, utiliza-se revisão da literatura, com foco nos conceitos e na leitura do processo de desenvolvimento econômico de Furtado, em particular na América Latina, com relações teóricas à noção de consumo conspícuo de Veblen. Conclui-se que a abordagem furtadiana sobre consumo mimético das elites periféricas bebeu do arcabouço teórico institucionalista de Veblen. When analyzing the works of Celso Furtado, similarities with the theories of Thorstein Veblen are identified, leading to the belief that the latter influenced the former. However, studies seeking to demonstrate such influence are scarce. This study aims to identify points of convergence between Furtado and Veblen, as well as to analyze their significance. Thus, a literature review is employed, focusing on concepts and interpreting Furtado’s economic development process, particularly in Latin America, with theoretical connections to Veblen’s notion of conspicuous consumption. It is concluded that Furtado’s approach to the mimetic consumption of peripheral elites drew from Veblen’s institutionalist theoretical framework. Al analizar las obras de Celso Furtado, se identifican similitudes con las teorías de Thorstein Veblen, lo que lleva a pensar que este último influenció al primero. Sin embargo, los estudios que buscan evidenciar tal influencia son escasos. Este artículo busca identificar puntos de aproximación entre Furtado y Veblen, así como analizar su significado. Para ello, se realiza una revisión de la literatura, centrándose en los conceptos y en la interpretación del proceso de desarrollo económico de Furtado, especialmente en América Latina, con relaciones teóricas a la noción de consumo conspicuo de Veblen. Se concluye que el enfoque furtadiano sobre el consumo mimético de las élites periféricas se nutrió del marco teórico institucionalista de Veblen.

In the past twenty-five years, the literature on consumption has gained analytic power by positioning itself against the consumer critics of the twentieth century (Veblen, Adorno and Horkheimer, Galbraith, Baudrillard), arguing that these accounts were totalizing, theorized consumers as too passive, and simplified motives. The literature moved to micro-level, interpretive studies that are often depoliticized and lack a critical approach to the subject matter. The author argues that developments such as the emergence of a global production system, ecological degradation, and new findings on well-being warrant a reengagement with the critical tradition and macro-level critiques. This article considers three traditions-Veblenian accounts of status seeking, the Frankfurt School, and Galbraith and the economic approach to consumer demand-arguing that the flaws of these models are not necessarily fatal and that the debate about producer versus consumer sovereignty should be revisited in light of the changing political power of transnational corporations.

An interesting controversy has emerged in recent years as to how Thorstein Veblen (1857-1929) accessed certain concepts from Charles S. Peirce's (1839-1914) philosophical thought and how he articulated these ideas within his understanding of evolution. In this article, I aim to provide a descriptive alternative that enables an articulation of the relationship between Veblen's concept of science and the methodological principles supporting his conception of evolutionary economics. Relatedly, I seek to explain how Veblen developed his vision of the logic of scientific research starting from the association between his 1884 paper, \"Kant's Critique of Judgment,\" and the Peircean concept of abductive inference. Referencing a broader set of his works, I present Veblen's understanding of Darwinian evolution, focusing on how he combined the concepts of cumulative causation and unit of selection characterizing his conception of process. Finally, I rely on Carlo Ginzburg's concept of evidential paradigm to show how this idea not only justifies an abductive understanding of science, but also stands as a necessary principle for describing evolutionary processes. In this sense, I point to the evidential paradigm and Veblen's abductive foundation both (i) as a promising epistemological model that integrates Veblenian concepts of science and evolution and (ii) as a descriptive reference for evolutionary economics.

The aim of this paper is to provide an interpretation of Veblen's theory of economic crises, based on the view that banking policy is a major factor in generating crises. It will be shown that, in Veblen's thought, crises may emerge due to the banking system's non-accommodating behaviour according to the following sequence: as firms are not homogeneous, the credit system spontaneously tends to help bigger firms increase in size, due to the increase in their capital turnover, which allows them to produce and sell before their competitors. This produces two effects: (i) the reduction in profits of the smaller firms (or their bankruptcy) generates a decline of employment and output while, at the same time, (ii) the increase in the industrial concentration ratio produces a rise in prices and a consequent drop in real wages. This in turn reduces total demand for consumption goods, thus worsening entrepreneurs' expectations and having an adverse effect on production and investment by firms.

En este artículo se identifica una lista de publicaciones originadas en Iberoamérica que han contribuido a la expansión de las ideas del economista social Thorstein Veblen (1857-1929). Se destacan algunas aportaciones específicas que han sido y están siendo realizadas en esta región hacia la literatura vebliana global. Es particularmente notable que, a partir de 1944, se ha mantenido una consistente producción editorial hasta la fecha. Aunque más recientemente, desde los años 1990s, la contribución más original de la región se ha dado en el campo del desarrollo económico y el análisis de fenómenos culturales. Además, se ha identificado un significativo grupo de investigadores en Brasil.

This article aims to assess the debate between John Bates Clark and the \"old\" institutionalist scholars - Thorstein Veblen, above all - with particular reference to the nature of capital and the functioning of the labor market. Although studies on both authors are numerous, relatively little attention has been paid to finding the crucial elements at the heart of their radical disagreement. A.J. Cohen ( 2014 ) convincingly argues that Veblen's attack on Clark is in the center of the capital controversy of the 1960s and 1970s. We propose an extension of this argument, based on the idea that Veblen's attack on Clark follows three steps. First, Veblen defined capital in money terms and, at the same time, he saw it as the accumulated technological and institutional experience of a community. Second, insofar as capital cannot be reduced to a stock of physical goods, it is logically impossible to derive a function of the marginal labor productivity from the existing stock of capital. Third, insofar as the marginal productivity of labor cannot be measured, it follows that the equality between real wage and marginal labor productivity cannot logically hold. It also follows that, since it does not exist, this equality cannot be used as a basis for establishing that the equilibrium wage is a just wage.

This paper provides an introduction to the Minsky-Veblen Cycles as a specific example of pluralist economic thinking in the context of the recent global economic crisis. It illustrates how pluralism can be applied to economic research. Specifically, the Minsky-Veblen Cycles combine three elements of institutional and post-Keynesian thought to explain key features of the current crisis. These elements are (1) John Maynard Keynes's postulate of effective demand, (2) Hyman Minsky's financial instability hypothesis, and (3) Thorstein Veblen's concept of conspicuous consumption. In this paper, we have a two-fold approach to them: First, we systematize the connection between the Minsky-Veblen Cycles as a theoretical argument and the epistemological rationale of a pluralist approach to economics. Second, we contrast the implications of our approach for incorporating behavioral assumptions in macroeconomic arguments to mainstream claims for a \"microfoundation\" of macroeconomic theory.