Veblen (Extra Credit)

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25 Terms

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Thorstein Veblen
A social theorist known for his critique of capitalism and concepts like conspicuous consumption.
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Instinct of workmanship
Natural human tendency to engage in productive and creative work; exemplified by artisans and their satisfaction in craftsmanship.
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Parental bent
The human tendency to care for and nurture others; seen in parents investing in their children's futures.
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Idle curiosity
Natural human tendency to seek knowledge for its own sake; demonstrated by scientists investigating out of pure interest.
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Emulation
The drive to imitate others, particularly those of higher social status; such as buying designer clothes to emulate celebrities.
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Cultural lag
The tendency for social, legal, and cultural changes to lag behind technological progress; issues seen in norms failing to keep up with AI advancements.
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Business vs. Industry Conflict
The conflict where business sabotages industry to keep prices high, despite industry being capable of high productivity.
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Conspicuous consumption
Demonstrating wealth and status through the purchase of luxury goods, such as expensive cars and jewelry.
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Conspicuous leisure
Displaying wealth and social status through non-productive leisure activities like attending exclusive events.
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Business sabotage
Intentional limitation of production to maintain high prices and profits; exemplified by oil production limits.
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Engineers as solution
Engineers should run industries for efficiency, shifting focus from profit-driven motives of business leaders.
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Nationalism
Nations pursue policies that reflect business interests, often leading to military expansion to protect those interests.
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Free income
Income earned by businesses without contributing directly to production.
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Capitalization
Attribution of free income to intangible assets that can create liabilities for businesses.
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Political implications of business control
Businesses seek to control political powers to protect profits, impacting free trade.
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Industrial Arts
A body of technical and mechanical knowledge that drives technological advancement in society.
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Business influence on politics
Business actions that manipulate state controls to protect their interests, hindering global economic growth.
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Technological advancement
Progress that society undergoes as technology evolves, often outpacing social changes.
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High productivity
The ability of industry to produce efficiently, benefiting society when optimized.
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Salesmanship
Business focus created by leaders on marketing and selling rather than actual production.
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Social signals of status
Actions or belongings that indicate a person's social standing, such as luxury purchases or exclusive leisure activities.
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Economic growth hindered
The negative impact on the economy due to conflicts between business and industry.
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Engineers' motivation
Engineers are driven by production efficiency as opposed to profit motives of business leaders.
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Social norms struggle
The difficulty social practices have in adapting to rapid technological growth.
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Military expansion for business
The practice of nations extending military influence to protect economic interests abroad.