Thorstein Veblen: A Marxist Starting Point

Kirsten Ford and William McColloch

Working Paper Series, Department of Economics, University of Utah from University of Utah, Department of Economics

Abstract: As existing literature attests, in spite of methodological differences Marx and Veblen draw strikingly similar conclusions regarding production, conflict, and alienation in modern existence. We here attempt to establish that similarity in conclusion stems from similarity in approach. After reviewing the existing literature on a Marx-Veblen methodological reconciliation, we recapitulate Marxs method, making the mediated starting point the locus of discussion.From this vantage point, we then examine Veblens own approach to analysis in The Theory of Business Enterprise and the conclusions that emerge as they resemble those of Marx. In taking a kindred approach Veblen is able to arrive at an understanding of capitalism in accordance with, and complementary to, Marxs rendering of the inverted nature of economic life in modernity.

Keywords: Marxism; Institutionalism; History of Economic Thought: Individuals; Economic Methodology: General JEL Codes: B140; B150; B300; B400 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2011
New Economics Papers: this item is included in nep-evo, nep-his, nep-hme, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:uta:papers:2011_11

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