Management Classics: Thorstein Veblen includes two serious works, The Theory of Business Enterprise and The Instinct of Workmanship and the Irksomeness of Labor. Management teaching is often only concerned with 'current' issues aligned conveniently with the prevailing orthodoxy. Sometimes, radical or controversial opinions are discarded. However, an author who deserves reading is the challenging Thorstein Veblen. Veblen was a brilliant, unorthodox, pessimistic economic and social scientist and satirist. One book differs from his usual satirical approach. The Theory of Business Enterprise (1904) represents his only attempt at a straight-forward text book. Here, Veblen illuminates the business world from a different angle. Veblen taught economics at the University of Chicago and edited the Journal of Political Economy. He challenged the orthodox ideas of Adam Smith and the academic status quo. Veblen's gloomy ideas came under attack during the roaring '20s. However, in the aftermath of the depression, his radical criticisms proved astute. Reading Veblen presents thoughtful students with the chance to enhance their understanding of economic society provided they are willing to approach him with an open mind.
Business-Money, Management-Leadership, Management,