Veblen and Higher Learning: The Trial Balance

Gautam Mukerjee

Journal of Economic Issues, 2011, vol. 45, issue 1, 223-240

Abstract: Corporatism in the academy continues to invite controversy just as it did nearly a century ago. Thorstein Veblen articulated many of the early concerns in Higher Learning in America ([1918] 1965). Many current commentaries on the subject echo Veblen's sentiments but appear to be oblivious of his tremendous intellectual legacy. This sad state of affairs may be a product of the severe reaction of early critics to Higher Learning followed by years of scholarly indifference. Nevertheless, the modern critiques of corporatism in the academy attest to the remarkable prescience of Veblen and his unique evolutionary perspective. Furthermore, critical opinion to the contrary, Higher Learning lacks neither logical consistency nor methodological integrity. Instead, Veblen's thoughts on the limits of pragmatic utilitarianism offer valuable insight into the ongoing controversy surrounding corporatism and higher learning.

Date: 2011
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DOI: 10.2753/JEI0021-3624450112

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