Hostname: page-component-cd9895bd7-8ctnn Total loading time: 0 Render date: 2024-12-27T09:56:39.445Z Has data issue: false hasContentIssue false
  • English
  • Français

Thorstein Veblen (1857–1929): ‘The Limitations of Marginal Utility’ (1909)

Published online by Cambridge University Press:  23 October 2009

GEOFFREY M. HODGSON
GEOFFREY M. HODGSON*
Affiliation:
The Business School, University of Hertfordshire, Hatfield, UK
*
*Email: g.m.hodgson@herts.ac.uk
Get access Rights & Permissions [Opens in a new window]

Extract

One hundred years ago, Thorstein Veblen (1909b) published what is one of his most important journal articles. In ‘The Limitations of Marginal Utility’, he not only developed his critique of neoclassical economics, but also expanded his own methodological outlook.

Type
Fragment
Information
Journal of Institutional Economics , Volume 5 , Issue 3 , December 2009 , pp. 379 - 397
Copyright
Copyright © The JOIE Foundation 2009

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Arrow, Kenneth J. (1994), ‘Methodological Individualism and Social Knowledge’, American Economic Review (Papers and Proceedings), 84 (2): 1–9.Google Scholar
Ayres, Clarence E. (1918), The Nature of the Relationship Between Ethics and Economics, Chicago: University of Chicago Press.Google Scholar
Ayres, Clarence E. (1936), ‘Fifty Years’ Developments in Ideas of Human Nature and Motivation’, American Economic Review (Papers and Proceedings), 26 (1): 224–236.Google Scholar
Ayres, Clarence E. (1952), The Industrial Economy: Its Technological Basis and Institutional Destiny, Cambridge, MA: Houghton Mifflin.Google Scholar
Ayres, Clarence E. (1961), Toward a Reasonable Society: The Values of Industrial Civilization, Austin: University of Texas Press.Google Scholar
Broda, Philippe (1998), ‘Commons versus Veblen on the Place of the Individual in the Social Process’, in Rutherford, Malcolm H. (ed.), The Economic Mind in America: Essays in the History of American Economics, London and New York: Routledge, pp. 210–230.Google Scholar
Bromley, Daniel W. (2006), Sufficient Reason: Volitional Pragmatism and the Meaning of Economic Institutions, Princeton, NJ: Princeton University Press.Google Scholar
Bunge, Mario A. (1959), Causality: The Place of the Causal Principle in Modern Science, Cambridge, MA: Harvard University Press.Google Scholar
Bunge, Mario A. (1980), The Mind–Body Problem: A Psychobiological Approach, Oxford: Pergamon.CrossRefGoogle Scholar
Camic, Charles (1986), ‘The Matter of Habit’, American Journal of Sociology, 91 (5): 1039–1087.CrossRefGoogle Scholar
Cannan, Edwin (1888), Elementary Political Economy, Oxford: Oxford University Press.Google Scholar
Collard, David (1978), Altruism and Economy: A Study in Non-Selfish Economics, Oxford: Martin Robertson.Google Scholar
Comte, Auguste (1830)–42, Cours de philosophie positive, 8 vols, 1st edn, Paris: Bachelier.Google Scholar
Darwin, Charles R. (1974), Metaphysics, Materialism, and the Evolution of Mind: Early Writings of Charles Darwin, transcribed and annotated by Barrett, Paul H. with a commentary by Gruber, Howard E., Chicago: University of Chicago Press.Google Scholar
Daugert, Stanley Matthew (1950), The Philosophy of Thorstein Veblen, New York: Columbia University Press.CrossRefGoogle Scholar
Dorfman, Joseph (1934), Thorstein Veblen and His America, New York: Viking Press.Google Scholar
Friedman, Milton (1953), ‘The Methodology of Positive Economics’, in Friedman, M., Essays in Positive Economics, Chicago: University of Chicago Press, pp. 3–43.Google Scholar
Hahn, Frank H. (1988), ‘On Monetary Theory’, Economic Journal, 98 (40): 957–973.CrossRefGoogle Scholar
Hindess, Barry (1989), Political Choice and Social Structure: An Analysis of Actors, Interests and Rationality, Aldershot: Edward Elgar.Google Scholar
Hodgson, Geoffrey M. (2001), How Economics Forgot History: The Problem of Historical Specificity in Social Science, London and New York: Routledge.CrossRefGoogle Scholar
Hodgson, Geoffrey M. (2004), The Evolution of Institutional Economics: Agency, Structure and Darwinism in American Institutionalism, London and New York: Routledge.CrossRefGoogle Scholar
Hodgson, Geoffrey M. (2007), ‘Meanings of Methodological Individualism’, Journal of Economic Methodology, 14 (2): 211–226.CrossRefGoogle Scholar
Horwitz, Steven (1992), Monetary Evolution, Free Banking, and Economic Order, Boulder, CO: Westview Press.Google Scholar
James, William (1890), The Principles of Psychology, 2 vols, 1st edn, New York and London: Holt & Macmillan.Google Scholar
Keynes, John Maynard (1936), The General Theory of Employment: Interest and Money, London: Macmillan.Google Scholar
Khalil, Elias L. (1995), ‘The Socioculturalist Agenda in Economics: Critical Remarks on Thorstein Veblen's Legacy’, Journal of Socio-Economics, 24 (4): 545–569.Google Scholar
Marshall, Alfred (1890), Principles of Economics: An Introductory Volume, 1st edn, London: Macmillan.Google Scholar
Mayr, Ernst (1988), Toward a New Philosophy of Biology: Observations of an Evolutionist, Cambridge, MA and London: Harvard University Press.Google Scholar
Pearl, Judea (2000), Causality: Models, Reasoning, and Inference, Cambridge and New York: Cambridge University Press.Google Scholar
Raines, J. Patrick and Leathers, Charles G. (1996), ‘Veblenian Stock Markets and the Efficient Markets Hypothesis’, Journal of Post Keynesian Economics, 19 (1): 137–151.CrossRefGoogle Scholar
Robbins, Lionel (1932), An Essay on the Nature and Significance of Economic Science, 1st edn, London: Macmillan.Google Scholar
Rutherford, Malcolm H. (1984), ‘Thorstein Veblen and the Processes of Institutional Change’, History of Political Economy, 16 (3): 331–348.CrossRefGoogle Scholar
Salmon, Wesley C. (1998), Causality and Explanation, Oxford: Oxford University Press.CrossRefGoogle Scholar
Samuelson, Paul A. (1948), Economics, New York: McGraw-Hill.Google Scholar
Searle, John R. (1997), The Mystery of Consciousness, London: Granta Books.Google Scholar
Udéhn, Lars (2001), Methodological Individualism: Background, History and Meaning, London and New York: Routledge.Google Scholar
Veblen, Thorstein B. (1900), ‘The Preconceptions of Economic Science: III’, Quarterly Journal of Economics, 14 (2): 240–269.CrossRefGoogle Scholar
Veblen, Thorstein B. (1901), ‘Industrial and Pecuniary Employments’, Publications of the American Economic Association, Series 3, pp. 190–235.Google Scholar
Veblen, Thorstein B. (1903), ‘Review of Pure Sociology: A Treatise Concerning the Origin and Spontaneous Development of Society by Ward’, Lester, Journal of Political Economy, 11 (4): 655–656.Google Scholar
Veblen, Thorstein B. (1904), The Theory of Business Enterprise, New York: Charles Scribners.Google Scholar
Veblen, Thorstein B. (1906a), ‘The Place of Science in Modern Civilisation’, American Journal of Sociology, 11 (1): 585–609.CrossRefGoogle Scholar
Veblen, Thorstein B. (1906b), ‘The Socialist Economics of Karl Marx and His Followers I: The Theories of Karl Marx’, Quarterly Journal of Economics, 20 (3): 578–595.CrossRefGoogle Scholar
Veblen, Thorstein B. (1907), ‘The Socialist Economics of Karl Marx and His Followers II: The Later Marxism’, Quarterly Journal of Economics, 21 (1): 299–322.CrossRefGoogle Scholar
Veblen, Thorstein B. (1908), ‘The Evolution of the Scientific Point of View’, University of California Chronicle, 10 (4): 396–416.Google Scholar
Veblen, Thorstein B. (1909)a, ‘Fisher's Rate of Interest’, Political Science Quarterly, 24 (2): 296–303.CrossRefGoogle Scholar
Veblen, Thorstein B. (1909)b, ‘The Limitations of Marginal Utility’, Journal of Political Economy, 17 (9): 620–36.CrossRefGoogle Scholar
Veblen, Thorstein B. (1914), The Instinct of Workmanship, and the State of the Industrial Arts, New York: Macmillan.Google Scholar
Vining, Rutledge (1939), ‘Suggestions of Keynes in the Writings of Veblen’, Journal of Political Economy, 47 (5): 692–704.CrossRefGoogle Scholar