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Synopsis
2013 Reprint of 1904 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. "The Theory of Business Enterprise" is a classic work in economics and political economy published in 1904. It is concerned with the growing corporate domination of culture and the economy. At its heart it is an analysis of two intertwined but clashing motivations; that of business and that of industry. Business is the making of profits. Industry (or the "machine process") is the making of goods. "The captains of industry" (capitalists or "Robber Barons") curtailed production in order to keep prices and profits high. The worst fear of businessmen was a "free run of production" which would essentially collapse all profits. Veblen's book was published at a high point of American concern with business combinations and trusts. Veblen employed his evolutionary analysis to explain these new forms.
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From the Back Cover
Thorstein Veblen was once described by Fortune magazine as "America's most brilliant and influential critic of modern business and the values of a business civilization," and his wisdom and often dry, satiric wit continues to be obvious today.
In The Theory of Business Enterprise, first published in 1904, he ravages corporate malfeasance and the greed that was spurring the robber barons of his day. If it all sounds familiar a century later, it's a testament to the timelessness of Veblen's criticisms of the corporate world, the wrongdoings of which today he would readily recognize. Modern readers will appreciate this reintroduction to one of the great economic thinkers.
About the Author
Thorstein Veblen (1857-1929) was perhaps the most famous American economist and social critic of his time. He taught at the universities of Chicago and Missouri, Stanford University, and the New School for Social Research. His many books include The Theory of Business Enterprise, The Higher Learning in America, and The Theory of the Leisure Class, all available from Transaction.
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