Thorstein Veblen argued that business interests can often impede the development of industry, as they may prioritize profit over technological or industrial advancement. This perspective is encapsulated in his critique of the profit motive and its potential to stifle innovation and efficiency in favor of maintaining market control and profitability.

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Veblen Believed That

Question 29

Multiple Choice

Veblen believed that

A) business thwarts the development of industry.
B) the pursuit of profit leads to lower prices through competition.
C) businessmen are always seeking to prevent shortages in all markets.
D) a person is "an isolated human datum in stable equilibrium except for the buffeting of impinging forces."
E) all of the above.

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