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
This animistic prepossession seems to pervade the earlier of his two
monumental works in a greater degree than the later. In the _Moral
Sentiments_ recourse is had to the teleological ground of the natural
order more freely and with perceptibly greater insistence. There seems
to be reason for holding that the animistic preconception weakened or,
at any rate, fell more into the background as his later work of
speculation and investigation proceeded. The change shows itself also in
some details of his economic theory, as first set forth in the
_Lectures_, and afterwards more fully developed in the _Wealth of
Nations_. So, for instance, in the earlier presentation of the matter,
"the division of labor is the immediate cause of opulence"; and this
division of labor, which is the chief condition of economic well-being,
"flows from a direct propensity in human nature for one man to barter
with another."[8] The "propensity" in question is here appealed to as a
natural endowment immediately given to man with a view to the welfare of
human society, and without any attempt at further explanation of how man
has come by it. No causal explanation of its presence or character is
offered. But the corresponding passage of the _Wealth of Nations_
handles the question more cautiously.[9] Other parallel passages might
be compared, with much the same effect. The guiding hand has withdrawn
farther from the range of human vision.
However, these and other like filial expressions of a devout optimism
need, perhaps, not be taken as integral features of Adam Smith's
economic theory, or as seriously affecting the character of his work as
an economist. They are the expression of his general philosophical and
theological views, and are significant for the present purpose chiefly
as evidences of an animistic and optimistic bent. They go to show what
is Adam Smith's accepted ground of finality,--the ground to which all
his speculations on human affairs converge; but they do not in any
great degree show the teleological bias guiding his formulation of
economic theory in detail.
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