Absentee Ownership and Business Enterprise in Recent Times: by Thorstein Veblen

By Thorstein Veblen

Absentee possession is an inquiry into financial situations as they've got taken form within the 20th century, quite as exemplified relating to the United States. in line with Thorstein Veblen, absentee possession is the most and rapid controlling curiosity within the lifetime of civilied males.

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Extra resources for Absentee Ownership and Business Enterprise in Recent Times: The Case of America

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That such a state of things has resulted is plainly due to the continued prevalence-and ever-increasing intol­ erance-of that unreasoning habit of national conceit, fear, hate, contempt, and servility, which the democratic peoples have inherited from the statecraft of dynastic politics, as it ran in the era of state-making; when the pre­ lates and princes competitively bled their underlying popu­ lations in the royal sport of realpolitik. ation makes all things right. Diligent habitu­ Except for this mob-mind of national integrity it is conceivable that democratic in­ stitutions might have come to serve the common good; but because of this the rule of Live and Let Live has in effect gone in the moral discard.

A necessary factor Therefore, that workday routine out of which the principle s of Natural Right arose in­ cluded also daily contact with the market and familiarity with the conduct of trade; so that all those preconceptions and usages of free contract and of bargain and sale which were involved in the conduct of the petty trade came to be worked into the texture of Natural Rights, by un­ broken habit, and became a constituent part of the system. In the balanced order of the handicraft system, the trader, too, was counted in as a workman engaged in serviceable work and therefore entitled to a livelihood on the ground of work done.

And the administration of external politics, be­ ing in the nature of an enterprise in chicane and coercion, is necessarily furtive, runs forever on sharp practice, care­ fully withholds "information that might be useful to the enemy," and habitually gives out information with intent to deceive. In effect, external politics is a blend of war and business and combines the peculiar traits of both. So the shadow of external politics covers also the manage­ ment of domestic affairs, with the result that the author­ ities of the democratic commonwealths habitually go about their work uRder a cover of reticence tempered with prevarication.

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