On Topical Themes in Veblen and Commons's Contributions: Remarks upon Receipt of the Veblen-Commons Award

Veblen's and Commons's contributions are outlined and related to the approaches to economics and political actions over the years of the author. Commons's philosophy and pragmatic contribution to economic and political institutions in order to help create decent living conditions for...

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Bibliographic Details
Published in:Journal of economic issues 2011-06, Vol.45 (2), p.261-268
Main Author: Harcourt, G. C.
Format: Article
Language:English
Subjects:
Achievements and awards
Australia
Awards
Capital goods
Capital movement
Capital theory
Capitalism
College faculty
College teachers
Economic capital
Economic inflation
Economic research
Economic theory
Economic thought
Economics
Economists
Free enterprise economies
Galbraith, John Kenneth
International trade
Keynesianism
Kregel, Jan
Living Conditions
Macroeconomics
Marxian economics
Participation
Philosophy
Political systems
Receipts
Society
The Veblen-Commons Award
Veblen, Thorstein Bunde
Vietnam War
War
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Summary:Veblen's and Commons's contributions are outlined and related to the approaches to economics and political actions over the years of the author. Commons's philosophy and pragmatic contribution to economic and political institutions in order to help create decent living conditions for wage-earners within capitalism are reflected in the author's rethink in the late 1970s of what was possible for a social democratic government in Australia to achieve. The implication of John Kenneth Galbraith's example and writings on the war in Vietnam are linked to the author's actions in Australia during Australia's involvement in the war. The relevance of Veblen's damning critique of J.B. Clark's views on capital theory for the arguments of the Cambridge - Cambridge controversies in capital theory of the 1950s-1970s, first noted by Joan Robinson, are set out. Veblen's biting analyses of the nature of capitalism in his major writings are argued to be even more relevant now for the modern world of haves, have nots and have lots.
ISSN:0021-3624
1946-326X
DOI:10.2753/JEI0021-3624450202