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Thorstein Veblen and Institutionalism (Library Edition, the Audio Classics)
by Dr William Peterson
Binding: Audio CD, Unabridged edition
Publisher: Knowledge Products
List Price: USD $25.00
Weight: 22
Dimension: H: 0.75 x L: 7.48 x W: 0.52 inches
ISBN 10: 0786169273
ISBN 13: 9780786169276
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Book Description:
Institutionalism is an economic point of view that emphasizes the role of social organization and structure in modern economic life. Thorstein Veblen (1857 1929), an American son of Norwegian immigrants, was instrumental in creating this school of thought in the early twentieth century, and he vigorously attacked what he regarded as the privileged leisure class in America. To institutionalists, the important institutions of economic life include customs, habits, morals, and laws. These are believed to be more important in shaping economic life than are marketplace principles. Institutionalists emphasize a historical interpretation of social life, asserting that economic generalizations should be relevant to time and place. Institutionalist ideas greatly influenced economic policies that were created in response to the Great Depression.

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