A New Theory of Thorstein Veblen (April 1973 | Volume: 24, Issue: 3)

A New Theory of Thorstein Veblen

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Authors: John Kenneth Galbraith

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April 1973 | Volume 24, Issue 3

The nearest thing in the United States to an academic legend—equivalent to that of Scott Fitzgerald in fiction or the Barrymores in the theatre—is the legend of Thorstein Veblen. The nature of such a legend, one assumes, is that the reality is enlarged by imagination and that, eventually, the image has an existence of its own. This is so of Veblen. He was a man of great and fertile mind and a marvelously resourceful exponent of its product. His life, beginning on the frontier of the upper Middle West in 1857 and continuing, mostly at one university or another, until his death in 1929, was not without adventure of a kind. Certainly, by the standards of academic life at the time, it was nonconformist. There was ample material both in his work and in his life on which to build the legend, and the builders have not failed.

There is, in fact, a tradition in American social thought that traces all contemporary comment on and criticism of American institutions to Veblen. As with Marx to a devout Marxist, everything is there. The Marxist, however, is somewhat more likely to know his subject. It is possible, indeed, that nothing more clearly marks an intellectual fraud in our time than a penchant for glib references to Veblen, particularly for assured and lofty reminders, whenever something of seeming interest is said, that Veblen said it better and first.

The legend deriving from Veblen’s life owes even more to imagination. What is believed—about his grim, dark boyhood in a poor immigrant Norwegian family in Minnesota; his reaction to these oppressive surroundings; his harried life in the American academic world of the closing decades of the last century and the first two of this; the fatal way he attracted women and vice versa and its consequences in his tightly corseted surroundings; the indifference of all right-thinking men to his work—has only a limited foundation in fact.

Economics is a dull enough business and sociology is sometimes worse, and so, sometimes, are those who profess these subjects. When, as with Veblen, the man is enlarged by a nimbus, the latter should be brightened, not dissolved. One reason that economics and sociology are dull is the belief that everything associated with human personality should be made as humdrum as possible. That is science. Still, there is a certain case for truth, and in regard to Veblen the truth is also far from tedious. His life was richly interesting; his boyhood, if much less grim than commonly imagined, had a deep and lasting effect on his later writing. Veblen is not a universal source of insight on American society. He did not see what had not yet happened. Also, on some things he was wrong, and faced with a choice between accuracy and a formulation that he felt would fill his audience with outrage, he rarely hesitated. He opted for the outrage. But no man of his time or since has looked