IDEAS home Printed from https://ideas.repec.org/a/beo/journl/v59y2014i202p131-156.html
   My bibliography  Save this article

What If Marx And Veblen Met…

Author

Listed:
  • Bahar Araz Takay
  • Derya Güler Aydın

Abstract

The aim of this study is to analyse both the differences and the similarities between Marx and Veblen regarding historical specificity, evolution, and alienation. Starting with their discussions on these subjects, this article builds on the analyses of capitalism. The goal of this study is not to collapse Marx and Veblen into one another but rather to understand capitalism by presenting the complementary relationship of the two economists’ analyses and to introduce an appropriate analytical framework for understanding capitalism. This study consists of three parts. The first part examines how Veblen regarded Marx’s analysis, and how Marx especially viewed Darwin’s theory of evolution. Marx’s approach to evolution and Veblen’s criticism of Marx on this topic will constitute the general framework of this part. The second part of the study evaluates the level of agreement or disagreement between Veblen and Marx on the idea of historicism from the perspective of dialectical materialism. The last part a alyses Marx and Veblen’s different ideas of the concept of alienation. The two economists’ views on the capitalist system will be determined based on these three concepts, introducing the similarities between them as well as the differences.

Suggested Citation

  • Bahar Araz Takay & Derya Güler Aydın, 2014. "What If Marx And Veblen Met…," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(202), pages 131-156, July – Se.
    • Handle: RePEc:beo:journl:v:59:y:2014:i:202:p:131-156
    as

    Download full text from publisher

    File URL: http://www.ekof.bg.ac.rs/wp-content/uploads/2014/12/05.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Howard Sherman, 1998. "Critique of the Critique: Analysis of Hodgson on Marx on Evolution," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 47-58.
    2. Geoffrey M. Hodgson, 2006. "Economics in the Shadows of Darwin and Marx," Books, Edward Elgar Publishing, number 3925.
    3. E. K. Hunt, 1979. "The Importance of Thorstein Veblen for Contemporary Marxism," Journal of Economic Issues, Taylor & Francis Journals, vol. 13(1), pages 113-140, March.
    4. Thorstein Veblen, 1908. "On the Nature of Capital," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 22(4), pages 517-542.
    5. Thorstein Veblen, 1907. "The Socialist Economics of Karl Marx and his Followers," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 21(2), pages 299-322.
    6. Thorstein Veblen, 1906. "The Socialist Economics of Karl Marx and his Followers," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 20(4), pages 575-595.
    7. Stephen Edgell & Jules Townshend, 1993. "Marx and Veblen on Human Nature, History, and Capitalism: Vive la Différence!," Journal of Economic Issues, Taylor & Francis Journals, vol. 27(3), pages 721-739, September.
    8. John Cummings, 1899. "The Theory of the Leisure Class," Journal of Political Economy, University of Chicago Press, vol. 7(4), pages 425-425.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The Birth and Growth of Modern Zoning (Part II): The FARsighted Great Depression
      by Jason Barr in Skynomics Blog on 2021-08-09 12:12:48

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Theofanis Papageorgiou & Ioannis Katselidis & Panayotis G. Michaelides, 2013. "Schumpeter, Commons, and Veblen on Institutions," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1232-1254, November.
    2. Kirsten Ford & William McColloch, 2011. "Thorstein Veblen: A Marxist Starting Point," Working Paper Series, Department of Economics, University of Utah 2011_11, University of Utah, Department of Economics.
    3. Dieter Bögenhold & Panayotis G. Michaelides & Theofanis Papageorgiou, 2021. "Schumpeter, Veblen, and Bourdieu on Institutions and the Formation of Habits," Springer Books, in: Neglected Links in Economics and Society, chapter 0, pages 233-259, Springer.
    4. Krstic, Bojan & Krstic, Milos, 2015. "Models Of Irrational Behaviour Of Household And Firm," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 61(4), pages 1-10, December.
    5. Tortia, Ermanno, 2014. "L'impresa come bene comune," AICCON Working Papers 131-2013, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
    6. Dolfsma, W.A., 2006. "IPRs, Technological Development, and Economic Development," ERIM Report Series Research in Management ERS-2006-004-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    7. Richard Holt & J. Barkley Rosser & David Colander, 2011. "The Complexity Era in Economics," Review of Political Economy, Taylor & Francis Journals, vol. 23(3), pages 357-369.
    8. Sacchetti, Silvia & Tortia, Ermanno, 2012. "The internal and external governance of cooperatives: the effective membership and consistency of value," AICCON Working Papers 111-2012, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
    9. Hugh Rockoff, 2008. "Great Fortunes of the Gilded Age," NBER Working Papers 14555, National Bureau of Economic Research, Inc.
    10. Nitzan, Jonathan & Bichler, Shimshon, 2019. "CasP's 'Differential Accumulation' versus Veblen's 'Differential Advantage' (Revised and Expanded)," Working Papers on Capital as Power 2019/01, Capital As Power - Toward a New Cosmology of Capitalism.
    11. Claudius Gräbner, 2017. "The Complementary Relationship Between Institutional and Complexity Economics: The Example of Deep Mechanismic Explanations," Journal of Economic Issues, Taylor & Francis Journals, vol. 51(2), pages 392-400, April.
    12. Tortia, Ermanno C., 2017. "The firm as a common. The case of the accumulation and use of capital resources in co-operative enterprises," MPRA Paper 76735, University Library of Munich, Germany.
    13. Robison, Lindon J. & Siles, Marcelo E. & Schmid, A. Allan, 2002. "Social Capital And Poverty Reduction: Toward A Mature Paradigm," Agricultural Economic Report Series 10941, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    14. Wilfred Dolfsma, 2013. "Government Failure," Books, Edward Elgar Publishing, number 15372.
    15. Giorgos Argitis, 2013. "Veblenian and Minskian financial markets," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 28-43.
    16. Davanzati, Guglielmo Forges, 2018. "Structural change driven by institutions: Thorstein veblen revised," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 105-110.
    17. Yara Zeineddine, 2021. "Institutional Aspects of Capital in Joan Robinson's 'Rules of the Game': Rentier versus Entrepreneurs in Managerial Capitalism," Working Papers hal-03230146, HAL.
    18. Tae-Hee Jo, 2021. "Veblen’s evolutionary methodology and its implications for heterodox economics in the calculable future," Review of Evolutionary Political Economy, Springer, vol. 2(2), pages 277-295, July.
    19. J. Drake, 2022. "Pistor’s Code of Capital: Wealth Inequality and Legalism About Capital," Journal of Business Ethics, Springer, vol. 181(3), pages 583-588, December.
    20. Stephen Pratten, 2007. "Realism, closed systems and abstraction," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(4), pages 473-497.

    More about this item

    Keywords

    Marx; Veblen; evolution; alienation; capitalism.;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:beo:journl:v:59:y:2014:i:202:p:131-156. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Goran Petrić (email available below). General contact details of provider: https://edirc.repec.org/data/efbeoyu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.