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A review essay on a book edited by Rick Tilman, A Veblen Treasury: From Leisure Class to War, Peace, and Capitalism (Armonk, NY: M. E. Sharpe, 1993 [see listing in IRPS No. 77]). Renewed interest in Thorstein Veblen's political economy is motivated by his critical assessment of contemporary capitalism from outside of a Marxist framework. Veblen anticipated the irrationalization of life in the modern world, the Great Depression, & the mild economic fluctuations of the 1980s. Tilman's edited collection contributes much of the best & most representative of Veblen's work to feed this renewed interest. This excellent anthology provides a broad theoretical framework in which to understand Veblen's ideas. M. Pflum

Intro -- Half Title -- Title Page -- Copyright Page -- Dedication -- CONTENTS -- INTRODUCTION TO THE TRANSACTION EDITION -- PREFACE TO THE 1960 EDITION -- PREFACE TO THE 1953 EDITION -- ACKNOWLEDGMENTS -- CHAPTER ONE GIANT OUT OF THE EARTH -- CHAPTER TWO VEBLEN'S SYSTEM OF SOCIAL SCIENCE: -- CHAPTER THREE BUSINESS VERSUS FULL PRODUCTION -- CHAPTER FOUR SCIENTISTS VERSUS CAPTAINS OF ERUDITION -- CHAPTER FIVE VEBLEN AND THE LIFE OF ACTION -- CHAPTER SIX THE COMMON MAN VERSUS THE STATE -- CHAPTER SEVEN THE REFORM OF ECONOMICS -- CHAPTER EIGHT LEISURE AND URBAN PASTORAL -- CHAPTER NINE CEDRO, HANNIBAL, AND DEARBORN -- CHRONOLOGY OF THORSTEIN VEBLEN'S LIFE -- A LIST OF VEBLEN'S BOOKS PUBLISHED BY TRANSACTION -- SELECTIVE BIBLIOGRAPHY -- Index

The economic perspectives of Thorstein Veblen & John Maynard Keynes are compared, arguing that, not only is there considerable agreement between the two men, but Keynes built on most elements of Veblen's economic theory. Topics include aggregate demand, determination of output & employment, determination of price level & inflation, monetary theory of production, the business cycle, & uncertainty & the future of capitalism. Both men denounced equilibrium economics, but Veblen stressed evolution/conflict while Keynes relied on uncertainty. Veblen saw the world constantly changing in unknown directions & believed that capitalism should be abolished, but Keynes believed that rational intervention could direct the course of social change & correct the inherent instability of the free market economy. 44 References. J. Lindroth

A review essay on a book by Rick Tilman, The Intellectual Legacy of Thorstein Veblen: Unresolved Issues (Westport, CT: Greenwood, 1996). This text investigates several controversial aspects of Veblen's theories, including the consistency of his notion of evolution, the categorization of Veblen's & John Dewey's theories under Progressive era thought, & his influence on New Deal philosophy & practice. Tilman's work in Veblen's notion of aesthetics & his biographical introduction, an iconoclastic revision of Joseph Dorfman's Thorstein Veblen and His America (1934) that emphasizes the significance of Veblen's intellectual contributions, are commended; however, Tilman's assertion that Dorfman's Jewish background impeded his biographical representation of Veblen is questioned. Moreover, Tilman's investigation of Veblen's hypothetical acceptance of New Deal legislation & contention that Veblen's prioritization of the relationships between ceremony & technology established him as sui generis are problematized. Tilman's text & John Wenzler's Transcendental Economics: The Quest to Unify Economic and Moral Law in Nineteenth Century American Thought are compared in conclusion. J. W. Parker