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THORSTEIN VEBLEN'S ECONOMIC SYSTEM
Author(s) -
WALKER DONALD A.
Publication year - 1977
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1977.tb00467.x
Subject(s) - veblen good , capitalism , neoclassical economics , economics , institutional economics , subject (documents) , positive economics , order (exchange) , character (mathematics) , political science , mathematics , law , politics , library science , computer science , geometry , finance
This study provides a foundation for an understanding of Veblen's economics by displaying its various parts as components of a system, and analyzing and evaluating them. An examination is made of Veblen's views on the subject‐matter of economics, his general theory of economic change, his theory of economic change under capitalism, and his prediction of the end of capitalism, under the emergence of a new economic order. It is shown that he constructed a highly general theory economic change that was scientific in character, but that in dealing with capitalism he wrote primarily as a social philosopher and ideologist.