Thorstein Veblen, Conspicuous Consumption, 1899
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Original Institutional Economics and Political Anthropology
Original Institutional Economics and Political Anthropology: Reflections on the nature of coercive power and vested interests in the works of Thorstein Veblen and Pierre Clastres Coauthored by: Manuel Ramon de Souza Luz; Faculty of Economics; Federal University ABC; São Paulo, Brazil [email protected] John Hall, Department of Economics, Portland State University; Oregon, USA [email protected] Abstract: Our inquiry advances a comparison of the anthropological content of Thorstein Veblen’s evolutionary perspective with the foundations of the political anthropology drawn from selected works of Pierre Clastres. We seek to establish that what can be referred to as a clastrean reference can simultaneously offer new perspectives on institutionalism, while maintaining a radical and emancipatory understanding of Veblen’s writings. In this sense, we seek to reconsider and reevaluate the role of economic surplus drawn from Veblen’s anthropology, while also offering a general and critical perspective for understanding the emergence of coercive power within societies. (94 words) JEL Classification Codes B15, B25, B41 Key Words: Coercive Power, Original Institutional Economics, Pierre Clastres, Political Anthropology, Thorstein Veblen (Front matter: 169 words) This inquiry considers contributions of Thorstein Veblen by juxtaposing them to selected contributions of Pierre Clastres, a scholar heralded as a founder of French political anthropology. Differing from Veblen, with his backgrounds in Economics and Philosophy, Clastres’ generated an anthropology founded on fieldwork investigations. These investigations abetted his constructing a theoretical synthesis that considers the nature of power and, relatedly, countervailing institutions within selected indigenous societies found across the South American continent. His body of research stresses that the classless and egalitarian character of indigenous societies was not an outcome of the comparatively modest levels of technology and the lack of accumulated surpluses. -
Identities Bought and Sold, Identity Received As Grace
IDENTITIES BOUGHT AND SOLD, IDENTITY RECEIVED AS GRACE: A THEOLOGICAL CRITICISM OF AND ALTERNATIVE TO CONSUMERIST UNDERSTANDINGS OF THE SELF By James Burton Fulmer Dissertation Submitted to the Faculty of the Graduate School of Vanderbilt University in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY in Religion December, 2006 Nashville, Tennessee Approved: Professor Paul DeHart Professor Douglas Meeks Professor William Franke Professor David Wood Professor Patout Burns ACKNOWLEDGEMENTS I would like to thank all the members of my committee—Professors Paul DeHart, Douglas Meeks, William Franke, David Wood, and Patout Burns—for their support and guidance and for providing me with excellent models of scholarship and mentoring. In particular, I am grateful to Prof. DeHart for his careful, insightful, and challenging feedback throughout the writing process. Without him, I would have produced a dissertation on identity in which my own identity and voice were conspicuously absent. He never tried to control my project but rather always sought to make it more my own. Special thanks also to Prof. Franke for his astute observations and comments and his continual interest in and encouragement of my project. I greatly appreciate the help and support of friends and family. My mom, Arlene Fulmer, was a generous reader and helpful editor. James Sears has been a great friend throughout this process and has always led me to deeper thinking on philosophical and theological matters. Jimmy Barker, David Dault, and Eric Froom provided helpful conversation as well as much-needed breaks. All my colleagues in theology helped with valuable feedback as well. -
Evolutionary Economics - Geoffrey M
FUNDAMENTAL ECONOMICS - Evolutionary Economics - Geoffrey M. Hodgson EVOLUTIONARY ECONOMICS Geoffrey M. Hodgson University of Hertfordshire Business School, Hatfield, Hertfordshire Al10 0ab, UK Keywords: Evolution, Economics, Novelty, Innovation, Darwinism, Variation, Selection, Replication, Game Theory. Contents 1. Introduction 2. The Emergence of Evolutionary Economics 3. First Principles and Shared Concerns 4. Different Evolutionary Approaches 5. The Search for General Evolutionary Principles 6. Evolutionary and Mainstream Economics Compared 7. Evolutionary Economics and Evolutionary Game Theory 8. Conclusion: Prospects for Evolutionary Economics Acknowledgements Glossary Bibliography References Biographical Sketch Summary Historically, a number of approaches in economics, including works by Adam Smith, Karl Marx, Carl Menger, Alfred Marshall, Thorstein Veblen, Joseph Schumpeter, and Friedrich Hayek, have been described as ‘evolutionary’. This is legitimate, because ‘evolutionary’ is a very broad word, loosely denoting concern with transformation, innovation and development. But today the term ‘evolutionary economics’ is more typically associated with a new wave of theorizing signaled by the seminal work of Richard Nelson and Sidney Winter in their Evolutionary Theory of Economic Change (1982). Although there is not yet any consensus on core principles, this wave of evolutionary thinking has given rise to a number of policy developments and has proved to be influentialUNESCO in a number of sub-disciplines, – inEOLSS business schools and in institutions concerned with science and innovation policy. Citation and other bibliometric studies show that despite its internal diversity, modern evolutionary economics has created a global network of identifiable interacting researchers. As well as discussing these background issues,SAMPLE this essay turns to theore CHAPTERStical principles and outlines some of the shared common assumptions of this broad approach. -
Thorstein Veblen (1857-1929) “Conspicuous Leisure”
Thorstein Veblen (1857-1929) “Conspicuous Leisure” • American economist • Born in farm country of Minnesota (Norwegian settlers) • Norwegian farmers vs. English townspeople • Theory of the Leisure Class (1899) Takes the appearance of an anthropological study of the “behavior of people who possess or are in the pursuit of wealth, and who, looking beyond their wealth, want the eminence/status that, or so they believe, wealth was meant to buy.” (John Kenneth Galbraith, Introduction) Book on snobbery and social pretense; the effect of wealth on behavior. Context: American society at the end of the 19th century: the “Gilded Age” (Rockefellers, Carnegies, Vanderbilts, etc). A rhetorically clever critique of the rich - purports to be a purely descriptive anthropological study (appearance of objectivity); no prescriptions offered. But, read between the lines, it is a “devastating put- down” (JKG, Intro). “Conspicuous Leisure” (Chapter 3) Some terms: pecuniary - money-related; monetary pecuniary struggle - struggle to acquire and exhibit wealth in order to gain status pecuniary emulation - effort to equal or surpass another in status associated with wealth leisure - nonproductive consumption of time leisure class - upper class exempt from productive work Veblen claims that the pecuniary struggle is the driving force behind the development of culture and society. The pecuniary struggle should make humans industrious and frugal. Veblen thinks otherwise: • For the working class (the “pecuniary inferior” class) - superficially this is true, but later we’ll see otherwise. • For the wealthy class (the “pecuniary superior” class) - pecuniary emulation demands abstention from work. The struggle for wealth (private property) is due to pecuniary emulation. It is not a struggle for subsistence. -
Thorstein Veblen and American Social Criticism Joseph Heath Department of Philosophy University of Toronto Thorstein Veblen Is P
Thorstein Veblen and American Social Criticism Joseph Heath Department of Philosophy University of Toronto Thorstein Veblen is perhaps best thought of as America’s answer to Karl Marx. This is sometimes obscured by the rather unfortunate title of his most important work, The Theory of the Leisure Class (1899), which misleading, insofar as it suggests that the book is just a theory of the “leisure class.” What the book provides is in fact a perfectly general theory of class, not to mention property, economic development, and social evolution. It is, in other words, a system of theory that rivals Marx’s historical materialism with respect to scope, generality and explanatory power. Furthermore, it is a system of theory whose central predictions, with respect to the development of capitalism and the possibilities for emancipatory social change, have proven to be essentially correct. When stacked up against Marx’s prognostications, this success clearly provides the basis for what might best be described as an invidious comparison. For example, it is Veblen who, at the close of the 19th century, observed that “The exigencies of the modern industrial system frequently place individuals and households in juxtaposition between whom there is little contact in any other sense than that of juxtaposition. One's neighbors, mechanically speaking, often are socially not one's neighbors, or even acquaintances; and still their transient good opinion has a high degree of utility... It is evident, therefore, that the present trend of the development is in the direction of heightening the utility of conspicuous consumption as compared with leisure” (1899, ch. -
Veblen Online: Information and the Risk of Commandeering the Conspicuous Self
PUBLISHED QUARTERLY BY THE UNIVERSITY OF BORÅS, SWEDEN VOL. 23 NO. 3, SEPTEMBER, 2018 Contents | Author index | Subject index | Search | Home Veblen online: information and the risk of commandeering the conspicuous self Holmes Miller Introduction. Veblen's The Theory of the Leisure Class introduced the concepts of conspicuous consumption and conspicuous leisure. These concepts are valid today, and one's online behaviour, social media engagement and general abundance of information help create a broader conspicuous self. Method. Two grids are used to illustrate concepts relating to the conspicuous self. One assesses information domains vs. risk and the other creates categories formed by the intersection of information abundance and one's conspicuous profile. Analysis. Using the information grids, general scenarios are identified and four categories are created reflecting information abundance, one's online presence and the trade-off between an information sender and information recipient's control of information. Results. Within this structure, various scenarios, risks, and amelioration strategies are presented and discussed. These can inform further analyses performed by individuals and organisations. Conclusions. Information technologies can support, further promulgate, or even inhibit conspicuous behaviour. P people may expand their conspicuous behaviour by employing strategies that craft their message and target micro audiences, or people may pull back from social media and online behaviour, while finally, people may choose to live with less privacy and more public lives. In each case, users may make behavioural adjustments to mitigate the predicted consequences. Introduction In 1899 Thorstein Veblen published The theory of the leisure class (Veblen, 1994). Since its publication, society has evolved and Veblen's terms and concepts have taken on different connotations. -
Instinct and Habit Before Reason: Comparing the Views of John Dewey, Friedrich Hayek and Thorstein Veblen
Instinct and Habit before Reason: Comparing the Views of John Dewey, Friedrich Hayek and Thorstein Veblen Geoffrey M. Hodgson 2 July 2005 Published in Advances in Austrian Economics The Business School, University of Hertfordshire, De Havilland Campus, Hatfield, Hertfordshire AL10 9AB, UK http://www.herts.ac.uk/business http://www.geoffrey-hodgson.ws Address for correspondence: Malting House, 1 Burton End, West Wickham, Cambridgeshire CB1 6SD, UK [email protected] KEY WORDS: Darwinism, reason, intentionality, habit, instinct, Veblen, Dewey, Hayek ABSTRACT This article compares the views of Veblen, Dewey and Hayek on the roles and relations between instinct, habit and reason. From a Darwinian perspective, it is shown that Veblen had a more consistent and developed position on this issue than others. While Dewey embraced instinct and especially habit in his early works, these concepts gradually disappeared from view. Despite their shared opposition to the rising behaviorist psychology, the works of both Dewey and Hayek bear the marks of its hegemony. Consequently, at least in the context addressed here, the works of Veblen deserve reconsideration. Instinct and Habit before Reason: Comparing the Views of John Dewey, Friedrich Hayek and Thorstein Veblen Geoffrey M. Hodgson „But in fact men are good and virtuous because of three things. These are nature, habit or training, reason.‟ Aristotle, The Politics (1962, p. 284) Among species on Earth, humans have the most developed capacity for reason, deliberation and conscious prefiguration.1 However, humans have evolved from other species. Their unique attributes have emerged by the gradual accumulation of adaptations. Our capacity for reason did not appear as a sudden and miraculous event. -
From Conspicuous Leisure to Conspicuous Consumption?
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics The Australian National University Centre for Economic Policy Research DISCUSSION PAPER Materialism on the March: from conspicuous leisure to conspicuous consumption? Paul Frijters and Andrew Leigh DISCUSSION PAPER NO. 495 September 2005 ISSN: 1442-8636 ISBN: 0 7315 3565 0 Paul Frijters, Economics Program, Research School of Social Sciences, The Australian National University, ACT 0200. Tel: (612) 6125 3292; Fax: (612) 6125 0182; Email: [email protected]. Andrew Leigh, Economics Program, Research School of Social Sciences, The Australian National University. Tel: (612) 6125 1374; Email: [email protected]; Website: www.andrewleigh.com. ABSTRACT This paper inserts Veblen’s (1898) concepts of conspicuous leisure and conspicuous consumption into a very simple model. Individuals have the choice to either invest their time into working, leading to easily observable levels of consumption, or into conspicuous leisure, whose effect on utility depends on how observable leisure is. We let the visibility of leisure depend positively on the amount of time an individual and her neighbors have lived in the same area. Individuals optimize across conspicuous leisure and conspicuous consumption. If population turnover is high, individuals are made worse off, since the visibility of conspicuous leisure then decreases and the status race must be played out primarily via conspicuous consumption. Analyzing interstate mobility in the US, we find strong support for our hypothesis: a 1 percentage point rise in population turnover increases the average work week of non-migrants by 7 minutes. -
Tax Policy and Aggregate Demand Management Under Catching up with the Joneses
Tax Policy and Aggregate Demand Management Under Catching Up with the Joneses By LARS LJUNGQVIST AND HARALD UHLIG* This paper examines the role for tax policies in productivity-shock driven economies with catching-up-with-the-Joneses utility functions. The optimal tax policy is shown to affect the economy countercyclically via procyclical taxes, i.e., “cooling down” the economy with higher taxes when it is “overheating” in booms and “stimulating” the economy with lower taxes in recessions to keep consumption up. Thus, models with catching-up-with-the-Joneses utility functions call for traditional Keynesian demand-management policies but for rather unorthodox reasons. (JEL E21, E62, E63) Envy is one important motive of human be- the aggregate desire by other agents to “catch havior. In macroeconomics, theories built on up.” While this may not make much of a dif- envy have been used in trying to explain the ference for asset-pricing implications aside equity premium puzzle as described by Rajnish from convenience, it is interesting to take the Mehra and Edward C. Prescott (1985). Andrew externality implied by the “catching-up” formu- B. Abel (1990, 1999) and John Y. Campbell and lation seriously, and investigate its policy im- John H. Cochrane (1999) postulate utility func- plications. The externality allows room for tions exhibiting a desire to catch up with the beneficial government intervention: the optimal Joneses, i.e., if others consume more today, you, tax policy would induce agents in the competi- yourself, will experience a higher marginal util- tive equilibrium to behave in a first-best man- ity from an additional unit of consumption in ner, which is given by the solution to a social the future.1 In some ways, the idea of catching planner’s problem with habit formation. -
The Last Gasp of Neoliberalism
The Last Gasp of Neoliberalism John P. Watkins, Professor of Economics at Westminster College and James E. Seidelman, Distinguished Service Professor of Economics and Former Provost at Westminster College [email protected] [email protected] Presented before the Association for Evolutionary Economics Allied Social Science Association Atlanta, Georgia January 4, 2019 Abstract: The ideas of both Thorstein Veblen and Karl Polanyi shed light on understanding the last gasp of neoliberalism. The last gasp refers to Donald Trump’s abandonment of free trade, long considered a corner stone of the neoliberal agenda, and his overt attacks on democratic institutions. In Trump, neoliberalism’s attempt to overcome the gridlock of liberal democracy has revealed its fascist leanings. Both Polanyi and Veblen warned about the trend towards fascism. Trump got elected, in part, by filling the void left by the factioning of neoliberalism, in part by the injustice felt by people in rural areas, those with stagnant incomes, males, and others. Trump has transcended the neoliberal agenda, approaching market relations from the point-of- view of the fight. The emergence of a predatory culture, in both the domestic and international realms, resembles the cultural outlined in Veblen’s Theory of Business Enterprise. Trumps actions reveal the need to extend Polanyi’s idea of social protection given the the negative effects of modern technology and Trump’s efforts to limit some regulatory agencies. Changing demographics and the adverse reaction to Trump’s fascist leanings may yet see the emergence of a new progressive era, suggesting, at least, that Trump represents the last gasp of neoliberalism. -
Institutional Economics EC446 Syllabus Winter 2021 John Hall
“Institutional Economics” EC446 Syllabus Winter Term 2021 Professor John Hall Institutional Economics, EC446 Portland State University CRN 41003, Sec. 001 Winter Term 2021 Telephone 503.725.3939 E-mail: [email protected] This ten week course in “Institutional Economics” is designed to introduce students to the field of Evolutionary-Institutional Economics. ‘Institutional Economics’, ‘Evolutionary Economics’, and ‘Evolutionary-Institutional Economics’ are names for areas of inquiry that tend not to be well known well within the larger discipline of Economic Science. This course is intended to correct this shortcoming, ensuring that students taking this course have a broad and deep exposure to key thinkers and their foundational ideas that prove integral to this tradition. Course Goals This course offers at least two clearly stated goals for students to achieve over this ten-week term. If not before, at least by Week 10 of this course, enrolled students would have raised their levels of proficiency and knowledge of the range of contributors to Institutional Economics, and to understand Institutional Economics as a bona fide school of thought within Economic Science. The second goal that registers as equally important: At least by this course’s end, enrolled students would have raised their proficiencies for absorbing and thinking through high-level ideas, and then writing up their own synthetic understandings artfully and in a manner that makes use of a sophisticated yet standard approach employing the “Harvard Short Style) for developing a perspective: that involves effectively citing literature from major thinkers and their texts. Defining our Area of Intellectual Inquiry In our course we shall largely be exploring economic, social, and philosophical thinking that was advance by Thorstein Veblen. -
Implications for Inclusive Leisure Services
International Journal of Environmental Research and Public Health Article The Influence of Power on Leisure: Implications for Inclusive Leisure Services Francisco Javier Lopez Frias 1,* and John Dattilo 2 1 Kinesiology Department and Rock Ethics Institute, Pennsylvania State University, University Park, PA 16802, USA 2 Recreation, Park and Tourism Management, Pennsylvania State University, University Park, PA 16802, USA; [email protected] * Correspondence: [email protected] Abstract: Many people experience domination as they encounter oppression and marginalization because of power differentials limiting their leisure. We rely on Foucault for guidance to examine connections between power and opportunities for people to be included in leisure and recognize that, like Foucault, we experience privilege. Considering such privilege, we explore power and people connections, scrutinize ways power influences leisure, and examine methods to promote or resist power to increase leisure. Drawing on the analysis of power and leisure, we examine how discourse influences leisure and identify ways to facilitate inclusive leisure. We consider these aspects via Allen’s (1998) modalities of power-over, power-to, and power-with. Analyzing these modalities, we address barriers to leisure associated with power, strategies people use to engage in resistance through leisure, and ways inclusive leisure might occur. We conclude that each person can make positive contributions and offer inclusive leisure. Citation: Lopez Frias, F.J.; Dattilo, J. Keywords: inclusion; leisure; power; Foucault The Influence of Power on Leisure: Implications for Inclusive Leisure Services. Int. J. Environ. Res. Public Health 2021, 18, 2220. https:// 1. Introduction doi.org/10.3390/ijerph18052220 According to Foucault, philosophy is a way of reflecting on people’s relationship with truth.