Here’s a summary of the main points of the book: The Theory Of Business Enterprise. It’s an interesting read and it definitely reflects the direction of our societies today. The video by Ray Dalio sums up the first few chapter of the book.
Our entire society is turning into a giant business and everything is getting impersonal.
Veblen’s main points:
- The majority of businesses today are run for profit in a machine-like manner.
- Businessmen reap the most reward by creating a system. The system gives them wide indirect authoritative control of our daily lives.
- People can be coerced into unwilling situations based on their personal circumstances and the lifestyle they want to lead.
- Growing a freedom fund enables us to take deliberate action so we will not be “coerced” into doing things we dislike.
- Minimalizing the stuff we consume means we will have more opportunities to …