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
In a theory proceeding on the premise of economic solidarity, the
important bearing of any activity that is taken up and accounted for, is
its bearing upon the furtherance of the collective life process. Viewed
from the standpoint of the collective interest, the economic process is
rated primarily as a process for the provision of the aggregate material
means of life. As a late representative of the classical school
expresses it: "Production, in fact, embraces every economic operation
except consumption."[3] It is this aggregate productivity, and the
bearing of all details upon the aggregate productivity, that constantly
occupies the attention of the classical economists. What partially
diverts their attention from this central and ubiquitous interest, is
their persistent lapse into natural-rights morality.
The result is that acquisition is treated as a sub-head under
production, and effort directed to acquisition is construed in terms of
production. The pecuniary activities of men, efforts directed to
acquisition and operations incident to the acquisition or tenure of
wealth, are treated as incidental to the distribution to each of his
particular proportion in the production of goods. Pecuniary activities,
in short, are handled as incidental features of the process of social
production and consumption, as details incident to the method whereby
the social interests are served, instead of being dealt with as the
controlling factor about which the modern economic process turns.
Public-domain text, read in full here on John Shaqi.
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