Absentee Ownership and its Discontents

<p>10 Essays presented at the International Thorstein Veblen Association conference in Istanbul (2012): “Veblen Capitalism and Possibilities for a Rational Economic Order.” Quotes below from the book:</p><p>“Most American economists in the early 20<sup>th</sup> century studied in Germany and were taught that John Stuart Mill’s 1848 <em>Principles of Political Economy</em> was the high-water mark of classical thought. However Mill’s reformist philosophy turned out to be “not a goal but a half-way house” toward the Progressive Era’s reforms [generally the 1890s to 1920s following the excesses of The Guilded Age]. … But the classical approach to political economy continued to evolve above all through Thorstein Veblen.” – Michael Hudson</p><p>“The Veblenian critique calls for anger but not despair. On the political front his critique of the … social order has helped move three generations to take political action against it: first the New Dealers of the 1930s and 1940s next the counterculture youth of the 1960s and the 1970s and now the egalitarian protesters of the New Millennium. So far they have failed … [and] the stakes have increased after each failure.” — William M. Dugger (Foreword)</p>