The Place of Science in Modern Civilisation, and Other EssaysVeblen, Thorstein
Philosophy
The Place of Science in Modern Civilisation, and Other Essays
Veblen, Thorstein
Economics; Science
Not even the causes and the scope of the quantitive
changes that may take place in the variables are allowed to fall within
the scope of the theory of economic dynamics.
So much of the volume, then, and of the system of doctrines of which the
volume is an exposition, as is comprised in the later eight chapters
(pp. 372-554), is an exposition of grievances and remedies, with only
sporadic intrusions of theoretical matter, and does not properly
constitute a part of the theory, whether static or dynamic. There is no
intention here to take exception to Mr. Clark's outspoken attitude of
disapproval toward certain features of the current business situation or
to quarrel with the remedial measures which he thinks proper and
necessary. This phase of his work is spoken of here rather to call
attention to the temperate but uncompromising tone of Mr. Clark's
writings as a spokesman for the competitive system, considered as an
element in the Order of Nature, and to note the fact that this is not
economic theory.[6]
The theoretical section specifically scheduled as Economic Dynamics
(chapters xii.-xxi.), on the other hand, is properly to be included
under the caption of Statics. As already remarked above, it presents a
theory of equilibrium between variables. Mr. Clark is, indeed, barred
out by his premises from any but a statical development of theory. To
realise the substantially statical character of his Dynamics, it is only
necessary to turn to his chapter xii. (Economic Dynamics). "A highly
dynamic condition, then, is one in which the economic organism changes
rapidly and yet, at any time in the course of its changes, is relatively
near to a certain static model" (p. 196). "The actual shape of society
at any one time is not the static model of that time; but it tends to
conform to it; and in a very dynamic society is more nearly like it than
it would be in one in which the forces of change are less active" (p.
197). The more "dynamic" the society, the nearer it is to the static
model; until in an ideally dynamic society, with a frictionless
competitive system, to use Mr. Clark's figure, the static state would be
attained, except for an increase in size,--that is to say, the ideally
perfect "dynamic" state would coincide with the "static" state. Mr.
Clark's conception of a dynamic state reduces itself to a conception of
an imperfectly static state, but in such a sense that the more highly
and truly "dynamic" condition is thereby the nearer to a static
condition. Neither the static nor the dynamic state, in Mr. Clark's
view, it should be remarked, is a state of quiescence. Both are states
of more or less intense activity, the essential difference being that in
the static state the activity goes on in perfection, without lag, leak,
or friction; the movement of parts being so perfect as not to disturb
the equilibrium. The static state is the more "dynamic" of the two. The
"dynamic" condition is essentially a deranged static condition: whereas
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