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Veblen's Predator and the Great Crisis

John Hall, Iciar Dominguez-Lacasa and Jutta Günther
Authors registered in the RePEc Author Service: Iciar Dominguez Lacasa ()

Journal of Economic Issues, 2012, vol. 46, issue 2, 411-418

Abstract: With this inquiry we attribute cause for the current and "Great Crisis" to Veblen's predator. After summarizing origins and manifestations of this crisis we juxtapose Veblen's emphasis upon the predator to other potential causes for crisis and crises. Noted to have emerged when our stock of human knowledge provided for the creation of surplus, Veblen's predator is presented as capable of metamorphosis and also driving evolution of our capitalistic system: whether this means emerging as the businessman in the "era of the machine," or the investment banker promoting a financial metaphysics in the current "era of finance."

Date: 2012
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DOI: 10.2753/JEI0021-3624460216

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Handle: RePEc:mes:jeciss:v:46:y:2012:i:2:p:411-418