The Preconceptions of Economic Science
About this book
The Preconceptions of Economic Science is a book written by Thorstein Veblen, an American economist and sociologist, that challenges the fundamental assumptions and preconceptions of classical economic theory. Veblen argues that economic theory is based on a set of outdated and erroneous assumptions about human behavior, such as the assumption of rationality and the belief that individuals always act in their own self-interest.Veblen also critiques the concept of the market as a self-regulating mechanism, arguing that markets are influenced by social and cultural factors that are often ignored by economists. He further argues that the focus on individualism in economic theory neglects the role of social institutions and collective action in shaping economic outcomes.The book is divided into four parts, each of which examines a different aspect of economic theory and its preconceptions. Part one explores the preconceptions of economic science, while part two examines the concept of value and the role of technology in economic development. Part three looks at the relationship between economics and social institutions, and part four considers the implications of Veblen's critique for economic policy.Overall, The Preconceptions of Economic Science is a thought-provoking and influential work that challenges many of the assumptions of classical economic theory and provides a new framework for understanding economic behavior and outcomes.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.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.