The Engineers and the Price System

In «The Engineers and the Price System,» Thorstein Veblen offers a penetrating analysis of the role of engineers in the modern economic landscape, particularly within the constraints of the capitalist price system. Veblen employs a unique blend of sociological insight and economic theory, illustrated through sharp critique of prevailing economic ideals and practices. He advocates for the integration of engineering principles into economic structures, positing that the professional and technical expertise of engineers could restore efficiency in production and mitigate the chaos wrought by speculative capitalism. This book stands as a vital touchstone in the fields of both economics and sociology, highlighting the discord between technological advancement and economic organization. Thorstein Veblen, renowned for his critical examinations of capitalism, was deeply influenced by the economic disruptions of his time, including the rise of industrialization and the burgeoning role of technology in society. His earlier works, such as «The Theory of the Leisure Class,» laid the groundwork for his exploration of class and productive labor, informing his perspective on the necessity of an economic system that harmonizes innovation and social welfare. Veblen's background in sociology and economic theory uniquely positioned him to address the complexities of his era. For readers seeking a profound understanding of the tensions between technological progress and economic structure, Veblen's «The Engineers and the Price System» offers invaluable insights. It beckons both scholars and the general public to reconsider the possibilities of an economy guided by technical ingenuity rather than mere profit motives, making it an essential read for anyone interested in the relationship between technology, economics, and society.