SOSC 2330 Lecture Notes - Lecture 4: Thorstein Veblen, Critical Race Theory, Conspicuous Consumption
29 Nov 2017
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Sosc 2330 6. 0 political economy of law, policy and organization. Key concepts: institutions conflict theory of society social control over economic practices: early influences on institutionalism, evolutionary process, economics and privilege, praxis the ferguson report racism as institution critical race theory. Thorstein veblen: american (us) economist, born 1857 died 1929. 1: concerned with the relationship between institutions and technology (or, the. Veblenian dichotomy): wrote the now famous theory of the leisure class where he theorizes the notion of conspicuous consumption. John r. commons: known for being a progressive, believing in the power of government regulation. Institutional economist and professor at the university of wisconsin and for his research in labour history. Economic behaviour is not independently self-motivated; it is shaped by the institutional environment of the individual. History is evolutionary, economics is evolutionary as well. Change is what defines our society and economy. Technological development is a crucial consideration when analyzing the nature of the economy.
