"The Theory of the Leisure Class" is a classic examination of the economics of the upper classes and the impact that their habits have upon society. In this work Thorstein Veblen coins the phrase «conspicuous consumption» to describe the often wasteful and unnecessary use of resources that is typical of the wealthiest members of a society. Veblen argues that the social values of the rich have greatly contributed to a lack of substantive cul ...
Originally published in «Cornhill» magazine, «Unto This Last» is a series of four essays on the politics of economics. Considered by Ruskin as one of his most important works, «Unto This Last» argues that economics, art and science must have a foundation in morality. Ruskin, who cannot be strictly labeled as a liberal or conservative in his political ideology, crafts a thought-provoking exposition of prevailing economic theories that is as relev ...
Karl Marx’s second volume in his monumental criticism of capitalism was prepared by Friedrich Engels from notes left for him and published in 1885 two years after Marx’s death. The work is organized into the following three sections: 1. The Metamorphoses of Capital and Their Circuits, 2. The Turnover of Capital, and 3. The Reproduction and Circulation of the Aggregate Social Capital. Where the first volume of Capital focuses mainly on the worker ...
First published in 1911, “The Principles of Scientific Management” by the American mechanical engineer and efficiency expert Frederick Winslow Taylor, is the highly influential study on industrial organization and management theory. Taylor is often referred to as the “Father of Scientific Management” and his approach to decision-making and management to optimize efficiency is often referred to as “Taylor’s Principles”, or “Taylorism”. The impact ...
Legendaarne investeerimisguru Michael Lewis alustab oma raamatut „Wall Streeti pokker“ nonda: oli 1986. aasta algus. See oli minu firma Salomon Brothersi allakaigu esimene aasta. Meie juhatuse esimees John Gutfreund tousis oma lauast ja laks jalutama. Mingi kohedust tekitav kuues meel juhatas teda ikka just sinna, kus oli parajasti kriis. Gutfreund paistis haistvat raha kadumist.Ta oli viimane inimene, keda pingul narvidega maakler naha tahtis. ...
First published in 1899 by American economist and sociologist Thorstein Veblen, “The Theory of the Leisure Class” is a classic and important examination of the economics of the upper classes and the impact that their habits have upon society at the end of the 19th century. In this work, Veblen, influenced by the work of Charles Darwin, Karl Marx, and Adam Smith, contends that the evolutionary development of human society is the basis for our mod ...
Genevan philosopher Jean-Jacques Rousseau was one of the most influential figures of the 18th century. His political philosophy has been pointed to as a major contributing factor in causing the French Revolution. Social and economic inequality has been a pervasive element of human existence for the entirety of recorded history. The causes of this inequality are principal to the discussion of political, legal, and economic theory. Rousseau acknow ...
The foundation for all modern economic thought and political economy, «The Wealth of Nations» is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in the following five books: Book I. Of the Causes of Improvement in the productive Power of Labour, Book II. Of the Nature, Accumulation, and Employment of Stock Introduc ...
