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Conference Proceeding

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Global Financial Crisis (2008-2009) -- Causes, Thorstein Veblen (1857-1929) -- Criticism and interpretation, William M. Dugger -- Criticism and interpretation


With this inquiry we attribute cause for the current and “Great Crisis” to Veblen’s predator. After summarizing origins and manifestations of this crisis we juxtapose Veblen’s emphasis upon the predator to other potential causes for crisis and crises. Noted to have emerged when our stock of human knowledge provided for the creation of surplus, Veblen’s predator is presented as capable of metamorphosis and also driving evolution of our capitalistic system: whether this means emerging as the businessman in the “era of the machine,” or the investment banker promoting a financial metaphysics in the current “era of finance.”


Presented at the AFEE Session: "Veblenian Roots and Implications of the Great Crisis" Chicago: 6-8 January 2012.

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