Veblen is a systematic economic theorist whose economic views run in parallel with those of his contemporaries. Also, his economic analysis is important for Marx's system. Veblen's economic theory as analyzed here consists of four basic components: reserve capacity, markup pricing, productivity, and aggregate demand; these elements constitute a coherent structure of economic analysis containing both microeconomics and macroeconomics used not only to analyze capitalism but to replace it. It is also argued that Veblen's economic theory is radical, because it utilizes social conflict as the driving force for social evolution.
Andrews, P.S.W.1951. Industrial Analysis in Economics. In Oxford Studies in the Price Mechanism. T. Wilson and P.S.W. Andrews (eds.). London: Oxford University Press.
2.
Averitt, Robert T.1968. The Dual Economy: The Dynamics of American Industry Structure. New York, N.Y.: W.W. Norton.
3.
Balogh, Thomas. 1982. The Irrelevance of Conventional Economics. New York, N.Y.: Liveright Publishing.
4.
Blair, John M.1956. Means, Thorp, and Neal on Price Inflexibility. Review of Economics and Statistics38 (4): 427-435.
5.
Blair, John M.1972. Economic Concentration, Structure, Behavior and Public Policy. New York, N.Y.: Harcourt.
6.
Blair, John M.1974. Market Power and Inflation: A Short-Run Target Return Model. Journal of Economic Issues8 (2): 453-478.
7.
Boddy, Raford and James Crotty. 1975. Class Conflict and Macro-Policy: The Political Business Cycle. Review of Radical Political Economics7 (1): 1-19.
8.
Dillard, Dudley. 1980. A Monetary Theory of Production: Keynes and the Institutionalists. Journal of Economic Issues14 (2): 255-273.
9.
Dillard, Dudley. 1988. Money as an Institution of Capitalism. In Evolutionary Economics: Institutional Theory and Policy, Vol. II. Marc R. Tool (ed.). Armonk, N.Y.: M.E. Sharpe.
10.
Dugger, William. 1996. Redefining Economics: From Market Allocation to Social Provisioning. In Political Economy for the 21st Century: Contemporary Views on the Trends of Economics. Charles J. Whalen (ed.). Armonk, N.Y.: M.E. Sharpe.
11.
Dugger, William and Howard J. Sherman. 1994. Comparison of Marxism and Institutionalism. Journal of Economic Issue28 (1): 101-127.
12.
Dumas, Lloyd. 1996. The Overburdened Economy. Berkeley, Calif.: University of California Press.
13.
Eichner, Alfred. 1987. The Macrodynamics of Advanced Market Economies. Armonk, N.Y.: M.E. Sharpe.
14.
Eichner, Alfred. 1973. A Theory of the Determination of the Mark-up under Oligopoly. Economic Journal83: 1184-1200.
15.
Eichner, Alfred. 1988. Prices and Pricing. In Evolutionary Economics, Vol. II. Marc R. Tool (ed.). Armonk, N.Y.: M.E. Sharpe.
16.
Goode, Richard. 1994. Gardiner Means on Administered Prices and Administrative Inflation. Journal of Economic Issues27: (1): 173-186.
17.
Hall, R. and C. Hitch. 1939. Price Theory and Business Behavior. Oxford Economic Papers2: 12-45.
18.
Hamilton, David. 1988. Institutional Economics and Consumption. In Evolutionary Economics, Vol. II. Marc R. Tool (ed.). Armonk, N.Y.: M.E. Sharpe.
19.
Harrod, Roy. 1952. The Law of Decreasing Costs. In Economic Essays. London: Macmillan. [Originally published in 1931 Economic Journal 41 (164): 566-76.]
20.
Hobson, John. 1936. Veblen. New York, N.Y.: Augustus M. Kelley.
21.
Hudson, Edward and Dale Jorgenson. 1974. U.S. Energy Policy and Economic Growth: 1975-2000. Bell Journal of Economic and Management Science5: 461-514.
22.
Hunt, E.K.1979. History of Economic Thought: A Critical Perspective. Belmont, Calif.: Wadsworth Publishing Company.
23.
Kaldor, Nicholas. 1978. Further Essays on Economic Theory. New York, N.Y.: Holmes and Meier.
24.
Kaldor, Nicholas. 1985. Economics Without Equilibrium. Armonk, N.Y.: M.E. Sharpe.
25.
Kaldor, Nicholas. 1967. Strategic Factors in Economic Development. Ithaca, N.Y.: Cornell University Press.
26.
Kalecki, Michal. 1939. Essays in the Theory of Economic Fluctuations. London: Allen and Unwin.
27.
Kalecki, Michal. 1971. Selected Essays on The Dynamics of The Capitalist Economy. Cambridge: Cambridge University Press.
28.
Mandel, Ernest. 1970. An Introduction To Marxist Economic Theory. New York, N.Y.: Pathfinder Press.
29.
Marx, K.1967. Capital, Vol. 1. New York, N.Y.: International Publishers.
30.
Means, Gardiner. 1935. Industrial Prices and their Relative Inflexibility. Senate Document No. 13, 1st Session, 74th Congress. Washington, D.C.: Government Printing Office.
31.
Means, Gardiner. 1962. The Corporate Revolution in America: Economic Reality vs. Economic Theory. New York, N.Y.: Crowell-Collier.
32.
Means, Gardiner. 1936. Notes On Inflexible Prices. American Economic Review26 (1): 25-35 [supplement].
33.
Mirowski, Philip. 1985. The Birth of the Business Cycle. New York, N.Y.: Garland Publishing.
34.
Mouhammed, A.1994. Veblen and the Business Cycle: A Marxist Perspective. Review of Radical Political Economics26 (1): 134-148.
35.
Naples, M.1987. Cyclical and Secular Productivity Slowdown. In The Imperiled Economy, Book 1: Macroeconomics from a Left Perspective. Robert Cherry et al. (eds.). New York, N.Y.: The Union for Radical Political Economics.
36.
Neal, Alfred C.1942. Industrial Concentration and Price Inflexibility. Washington, D.C.: American Council on Public Affairs.
37.
Nourse, Edwin G. and Horace B. Drury. 1938. Industrial Price Policies and Economic Progress. Washington, D.C.: The Brookings Institute.
38.
Okun, Arthur. 1981. Prices and Quantities: A Macroeconomic Analysis. Washington, D.C.: The Brookings Institute.
39.
Peterson, Wallace C.1980. Power and Economic Performance. Journal of Economic Issues14 (4): 827-869.
40.
Peterson, Wallace C., (ed.). 1988. Market Power and the Economy. Boston, Mass.: Kluwer Academic Publishers.
41.
Phillips, Ron. 1989. Radical Institutionalism and the Texas School of Economics. In Radical Institutionalism: Contemporary Voices. William M. Dugger (ed.). New York, N.Y.: Greenwood Press.
42.
Samuels, Warren. 1994. On "Shirking" and "Business Sabotage": A Note. Journal of Economic Issues28 (4): 1249-1255.
Shaikh, Anwar. 1982. Neo-Ricardian Economics: A Wealth of Algebra, a Poverty of Theory. Review of Radical Political Economics14 (2): 67-83.
45.
Sowell, Thomas. 1967. The Evolutionary Economics of Thorstein Veblen. Oxford Economic Papers new series, 1: 177-198.
46.
Stanfield, J.R.1977. Limited Capitalism, Institutionalism, and Marxism. Journal of Economic Issues11 (1): 60-71.
47.
Sweezy, Paul M.1939. Demand Under Conditions of Oligopoly. Journal of Political Economy47: 568-573.
48.
Sweezy, Paul M.1958. Veblen's Critique of the American Capitalism. American Economic Review, 48 (2): 21-29.
49.
Thorp, Willard. 1936. Price Theories and Market Realities. American Economic Review supplement, 26 (1): 15-22.
50.
Thurow, Lester. 1981. Solving the Productivity Problem. In Strengthening the Economy. Studies in Productivity. L. Thurow, A. Parker, and H. Samuels (eds.). Washington, D.C.: Center for Democratic Policy.
51.
Tilman, Rick. 1996. The Egalitarian Significance of Veblen's Business-Industry Dichotomy. In Inequality: Radical Institutionalist Views on Race, Gender, Class, and Nation. William M. Dugger (ed.). Westport, Conn.: Greenwood Press.
52.
Veblen, Thorstein. 1973. The Theory of Business Enterprise. New York, N.Y.: Augustus M. Kelley. [Originally published by Charles Scribner, 1904].
53.
Veblen, Thorstein. 1969. The Vested Interests and the State of the Industrial Arts. New York, N.Y.: Capricorn Books. [Originally published by B.W. Huebsch, 1919.]
54.
Veblen, Thorstein. 1923. Absentee Ownership: The Case of America. Boston, Mass.: Beacon Press.
55.
Veblen, Thorstein. 1953. The Theory of the Leisure Class. New York, N.Y.: a Mentor Books. [Originally published by the Macmillan Company, 1899.]
56.
Veblen, Thorstein. 1934. Essays in Our Changing Order. New York, N.Y.: Viking Press.
57.
Veblen, Thorstein. 1965. The Engineers and the Price System. New York, N.Y.: Augustus M. Kelley. [Originally published by B.W. Huebsch, 1921.]
58.
Veblen, Thorstein. 1961. The Place of Science in Modern Civilization and Other Essays. New York, N.Y.: Russell and Russell.
59.
Veblen, Thorstein. 1964. The Instinct of Workmanship. New York, N.Y.: Augustus M. Kelly.
60.
Vining, Rutledge. 1939. Suggestions of Keynes in the Writings of Veblen. Journal of Political Economy47: 692-704.
61.
Yates, Michael D.1994. Longer Hours, Fewer Jobs: Employment and Unemployment in the United States. New York, N.Y.: Monthly Review Press.
