The Engineers and the Price System - by Thorstein Veblen (Paperback)

Book Synopsis

In "The Engineers and the Price System," Thorstein Veblen offers a critical examination of the relationship between engineering practices and the economic structures of his time. Utilizing a blend of incisive social commentary and economic theory, Veblen articulates how technological advancements, often spearheaded by engineers, can be stymied by the prevailing market-driven price system. His prose, characterized by a distinctive blend of irony and clarity, situates the book within the broader context of early 20th-century American pragmatism and social economics, challenging normative capitalist values and advocating for the primacy of innovation over profit motives. Thorstein Veblen, an influential economist and sociologist, was born in 1857 and became known for his critical perspective on capitalism. His unique academic background in both economics and sociology, alongside his experiences in a rapidly industrializing society, compelled him to interrogate how the economic landscapes shaped individual agency, particularly within the professional ranks of engineers. Veblen's earlier work, including "The Theory of the Leisure Class," reflects his ongoing concern with social stratification and the tensions between technology and market capitalism. This book is an essential read for anyone interested in the intersections between technology, economy, and society. Veblen's persuasive arguments and insightful critiques render it thought-provoking for scholars, students, and professionals engaged in engineering, economics, and social sciences. By exploring how the engineering profession can serve as a catalyst for societal advancement, "The Engineers and the Price System" remains relevant for contemporary discussions on innovation and economic reform.