John Refior · @jrefior
354 followers · 2719 posts · Server hachyderm.io"the businessmen who own everything have employed themselves in the economically unproductive practices of conspicuous consumption and conspicuous leisure, which are useless activities that contribute neither to the economy nor to the material production of useful goods and services. Instead, the middle and working classes support the whole of society"
https://en.wikipedia.org/wiki/The_Theory_of_the_Leisure_Class
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#Veblen #economics #HistoryOfEconomicThought #inequality #y1899
#veblen #economics #historyofeconomicthought #inequality #y1899
Christian Pietsch 🍑 · @chpietsch
3807 followers · 13286 posts · Server digitalcourage.social
I am not an economist but as far as I know, Marx already distinguished "industrial capitalism" from "finance capitalism". https://en.wikipedia.org/wiki/Finance_capitalism
#Veblen seems to have developed this distrinction further.
Gottfried Feder, the original Nazi party's chief economist, also liked to distinguish between "schaffendes Kapital" and "raffendes Kapital", creating a basis for #Strasserism and #Hitlerism.
https://en.wikipedia.org/wiki/Strasserism
I wonder how we can use this distinction now without falling into the abyss that is antisemitism.
#hitlerism #strasserism #veblen
Kent Bausman · @socprofb
116 followers · 276 posts · Server universeodon.com
salix sericea (@Ripple13216) · @salixsericea
64 followers · 1252 posts · Server mastodon.social
Phrase of the day:
"Trained incapacity"
In #sociology, trained #incapacity is "that state of affairs in which one's abilities function as inadequacies or blind spots."
https://en.wikipedia.org/wiki/Thorstein_Veblen#Trained_incapacity
#sociology #incapacity #thorstein #veblen
Arindam · @Arindam
9 followers · 120 posts · Server universeodon.com'Representative government means, chiefly, representation of business interests.' - Thorstein #Veblen, The Theory of Business Enterprise, 1904.
Hence my preference for #directdemocracy.
Austrealprog :verified: · @AustRealProg
2 followers · 5 posts · Server econtwitter.net
EconomicsInTen · @EconomicsInTen
29 followers · 9 posts · Server econtwitter.net
If you'd like to learn about famous #economists, we've got #podcasts on all of these:
#Smith
#Marx
#Ricardo
#Keynes
#Hayek
#Friedman
#Pigou
#Ostrom
#Robinson
#Malthus
#Khaldun
#Kahneman
#Fawcett
#Schumacher
#Schumpeter
#Sen
#DeSolo
#Yunus
#Duflo
#Phillips
#Gini
#NashJr
#Lewis
#Buchanan
#Kuznets
#Marshall
#Veblen
With more to come... #econtwitter
#economists #podcasts #smith #marx #ricardo #keynes #hayek #friedman #pigou #ostrom #robinson #malthus #khaldun #Kahneman #fawcett #schumacher #schumpeter #sen #desolo #yunus #duflo #phillips #gini #nashjr #lewis #buchanan #kuznets #marshall #veblen #econtwitter
David Mertz · @dmertz
48 followers · 109 posts · Server mas.to
Here's a fun talk I have a few months ago on "Encrypting tulips in the modern prestige economy: Blockchain, cryptocurrency, NFTs, and dystopianism"
#cryptocurrancies #nft #dystopic #economics #veblen #deadmoney
#deadmoney #veblen #economics #dystopic #NFT #cryptocurrancies