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
According to ancient prescription, then, all normal, legitimate economic
activities carried on in a well regulated community serve a materially
useful end, and so far as they are lucrative they are so by virtue of
and in proportion to a productive effect imputed to them. But in the
situation as it exists at any time there are activities and classes of
persons which are indispensable to the community, or which are at least
unavoidably present in modern economic life, and which draw some income
from the aggregate product, at the same time that these activities are
not patently productive of goods and can not well be classed as
industrial, in any but a highly sophisticated sense. Some of these
activities, which are concerned with economic matters but are not
patently of an industrial character, are integral features of modern
economic life, and must therefore be classed as normal; for the existing
situation, apart from a few minor discrepancies, is particularly normal
in the apprehension of present-day economists. Now, the law of economic
equivalence and equity says that those who normally receive in income
must perforce serve some productive end; and, since the existing
organization of society is conceived to be eminently normal, it becomes
imperative to find some ground on which to impute industrial
productivity to those classes and employments which do not at first view
appear to be industrial at all. Hence there is commonly visible in the
classical political economy, ancient and modern, a strong inclination to
make the schedule of industrially productive employments very
comprehensive; so that a good deal of ingenuity has been spent in
economically justifying their presence by specifying the productive
effect of such non-industrial factors as the courts, the army, the
police, the clergy, the schoolmaster, the physician, the opera singer.
But these non-economic employments are not so much to the point in the
present inquiry; the point being employments which are unmistakably
economic, but not industrial in the naive sense of the word industry,
and which yield an income.
Public-domain text, read in full here on John Shaqi.
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