Thorsten Veblen is an American economist and sociologist. His theory focuses on the relationship and conflict between business and industry. In addition, Thorsten Veblen also addresses how different social class affects their consumption behavior in this chapter.
Business and Industry
In Thorsten Veblen’s theory, business is built by a group of people which include the capitalist, shop owner, employer and business manager. These people focus on how to make the market work and how to create a bigger profit for the entire business. Therefore, the businessman did not want to produce a lot of products because of the higher amount of goods, the less value for each output. They want a variety of goods but in small capacity then the market can always have more supplies than demands. In contrast, Thorsten Veblen finds out that the industry wants to produce as many products as possible because the more goods they yield, the less cost that the industry needs to pay. However, the most of the industries are controlled by the business which is beneficial for the business people. As a result, not only the profit issues create the conflicts between the business and industry, but also the unequal leading power makes business and industry exist the contradictions.
Conspicuous Consumption and Conspicuous Leisure
Thorsten Veblen observed the people use conspicuous consumption and conspicuous leisure to demonstrate their social class is different than others. Conspicuous consumption is that people spend higher price to buy goods such as luxuries bags. They spend more money to buy one thing is because they want to show off their wealthy and display their social class is higher than the general people. On the other hand, t...
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...example, Cathy is a basketball player and she plays the shooting guard and her teammate Sarah plays the forward, Cathy has to not only understand what is her duty, she also has to understand the what other people’s work in the group to make the team work.
I and Me
In George Herbert Mead’s theory, he argued the difference between me and Me. “I”, is a thinking process which is more subjective, active and self-central orientated. In contrast, “Me”, is a thinking process that is more objective, passive and public orientated. For instance, “I like to watch TV” show that the action is a person’s self-orientation of doing something. It displays the person’s cognitive action is controlled by the person itself instead of other people. In contrary, “Teacher asks me to watch TV” address that the action is fit other people’s perspective rather than come from the person itself.
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