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
There is, therefore, no call to impugn these premises of the
marginal-utility economics within their field. They commend themselves
to all serious and uncritical persons at the first glance. They are
principles of action which underlie the current, business-like scheme of
economic life, and as such, as practical grounds of conduct, they are
not to be called in question without questioning the existing law and
order. As a matter of course, men order their lives by these principles
and, practically, entertain no question of their stability and finality.
That is what is meant by calling them institutions; they are settled
habits of thought common to the generality of men. But it would be mere
absentmindedness in any student of civilization therefore to admit that
these or any other human institutions have this stability which is
currently imputed to them or that they are in this way intrinsic to the
nature of things. The acceptance by the economists of these or other
institutional elements as given and immutable limits their inquiry in a
particular and decisive way. It shuts off the inquiry at the point where
the modern scientific interest sets in. The institutions in question are
no doubt good for their purpose as institutions, but they are not good
as premises for a scientific inquiry into the nature, origin, growth,
and effects of these institutions and of the mutations which they
undergo and which they bring to pass in the community's scheme of life.
To any modern scientist interested in economic phenomena, the chain of
cause and effect in which any given phase of human culture is involved,
as well as the cumulative changes wrought in the fabric of human conduct
itself by the habitual activity of mankind, are matters of more
engrossing and more abiding interest than the method of inference by
which an individual is presumed invariably to balance pleasure and pain
under given conditions that are presumed to be normal and invariable.
The former are questions of the life-history of the race or the
community, questions of cultural growth and of the fortunes of
generations; while the latter is a question of individual casuistry in
the face of a given situation that may arise in the course of this
cultural growth. The former bear on the continuity and mutations of that
scheme of conduct whereby mankind deals with its material means of life;
the latter, if it is conceived in hedonistic terms, concerns a
disconnected episode in the sensuous experience of an individual member
of such a community.
Public-domain text, read in full here on John Shaqi.
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