By Chris Freeman, Francisco Louçã
The net and cellular phones have made each person extra conscious than ever of the pc revolution and its results at the financial system and society. 'As Time is going by means of' places this revolution within the point of view of earlier waves of technical switch: steam-powered mechanization, electrification, and motorization. It argues for a thought of reasoned fiscal heritage which assigns a principal position to those successive technological revolutions.
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Extra resources for As Time Goes By: From the Industrial Revolutions to the Information Revolution
Veblen (1921a, p. ” But he did not describe the Downloaded by [University of Ottawa] at 03:24 17 September 2016 32 General Introduction system of economic organization and coordination that was appropriate for twentieth-century technology. He never gave a detailed picture of an alternative mode of organization of modern industrial society, other than his vague references to a “Soviet of engineers” or an “industrial directorate” of experts (Veblen 1921a, p. 144). With his insuﬃciently grounded presumption that private property and markets are entirely dispensable, Veblen converges with Marxism, despite his other analytical diﬀerences with that doctrine.
235; 1952, p. 41; 1961, p. 175), underestimated the role of the individual (Hodgson 2004). But this was not true of Veblen, who insisted that social science must “formulate its theoretical results in terms of individual conduct” (1909c, p. 519 [in this volume]). 26 General Introduction Downloaded by [University of Ottawa] at 03:24 17 September 2016 not believe that social wholes entirely determine the individual parts. On the following page (p. 52 [in this volume]) he immediately goes on to emphasize that institutions are a product of individuals in a group, and institutions cannot exist without individuals: The growth and mutations of the institutional fabric are an outcome of the conduct of the individual members of the group, since it is out of the experience of the individuals, through the habituation of individuals, that institutions arise; and it is in this same experience that these institutions act to direct and deﬁne the aims and end of conduct.
153 [in this volume]) argument that the requirement of a full evolutionary explanation of origin obliges us to abandon the assumption of the given individual: The economic life history of the individual is a cumulative process of adaptation of means to ends that cumulatively change as the process goes on, both the agent and his environment being at any point the outcome of the last process. In place of “a passive and substantially inert and immutably given human nature,” Veblen saw instincts and habits as the dynamic bases of intention and action.