An Inquiry into the Nature of Peace and the Terms of Its PerpetuationVeblen, Thorstein
Philosophy
An Inquiry into the Nature of Peace and the Terms of Its Perpetuation
Veblen, Thorstein
Peace; World War, 1914-1918 -- Peace
Again, there runs through the length and breadth of this business
community a certain measure of incompetence or inefficiency of
management, as seen from the point of view of the conceivable perfect
working of the system as a whole. It may be due to a slack attention
here and there; or to the exigencies of business strategy which may
constrain given business concerns to an occasional attitude of "watchful
waiting" in the hope of catching a rival off his guard; or to a lack of
perfect mutual understanding among the discretionary businessmen, due
sometimes to an over-careful guarding of trade secrets or advance
information; or, as also happens, and quite excusably, to a lack of
perfect mutual confidence among these businessmen, as to one another's
entire good faith or good-will. The system is after all a competitive
one, in the sense that each of the discretionary directors of business
is working for his own pecuniary gain, whether in cooperation with his
fellows or not. "An honest man will bear watching." As in other
collusive organisations for gain, confederates are apt to fall out when
it comes to a division of what is in hand. In one way and another the
system is beset with inherent infirmities, which hinder its perfect
work; and in so far it will fall short of the full realisation of that
rule of business that inculcates charging what the traffic will bear,
and also in so far the pressure which the modern system of business
management brings to bear on the common man will also fall short of the
last straw--perhaps even of the next-to-the-last. Again it turns out to
be a question not of the failure of the general proposition as
formulated, but rather as to the closeness of approximation to its
theoretically perfect work. It may be remarked by the way that vigilant
and impartial surveillance of this system of business enterprise by an
external authority interested only in aggregate results, rather than in
the differential gains of the interested individuals, might hopefully
be counted on to correct some of these shortcomings which the system
shows when running loose under the guidance of its own multifarious
incentives.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account