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The Limitations of Marginal Utility

by Thorstein Veblen

2021-05-31 19:45:59

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Originally published in 1909, this is a work by Thorstein Veblen, an American economist and sociologist. It is an article written for the Journal of Political Economy publication outlining some of his theories on economics. We are republishing this w... Read more
Originally published in 1909, this is a work by Thorstein Veblen, an American economist and sociologist. It is an article written for the Journal of Political Economy publication outlining some of his theories on economics. We are republishing this work with a brand new introductory biography of the author with the aim of placing it in the context of his other writings and achievements. The following passage is an extract from the article:''The limitations of the marginal-utility economics are sharp and characteristic. It is from first to last a doctrine of value, and in point of form and method it is a theory of valuation. The whole system, therefore, lies within the theoretical field of distribution, and it has but a secondary bearing on any other economic phenomena than those of distribution -- the term being taken in its accepted sense of pecuniary distribution, or distribution in point of ownership.'' Less

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ISBN9781473324169
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Thorstein Veblen
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Thorstein Veblen (30 July 1857 – 3 August 1929) was a Norwegian-American economist and sociologist, who during his lifetime emerged as a well-known critic of capitalism. In his best-known book, T...

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