Socio-economic evolution and Darwinism in Thorstein Veblen: A critical appraisal

What is it about?

The paper questions the idea that a biology-based perspective, and more specifically Darwinian population thinking, constitutes a real alternative for the study of the evolution of social systems. This is done through a critical appraisal of the work of Thorstein Veblen. Even though Veblen’s account of the evolution of humankind makes the notion of natural selection practically redundant, his remaining attachment to Darwinism created two other serious tensions for him. First, his attachment to the Darwinian scheme of ‘descent with modification’ kept him from devising a systematic theory of the different socio-economic systems he studied. This shortcoming is more evident in his analysis of capitalism, which not only lacks an elaborated theory but also contradicts his initial evolutionary programme. Second, by postulating that human history is a question of cultural change, Veblen was tempted to conflate social structures, institutions and habits of thought. Key words: Evolution, Thorstein Veblen, Darwinism, Institutions, Social structures JEL classifications: B52, B41, B15, P10

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