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What did Veblen's distinction between "institutions" and "technology" become known as?

  • Institutional-consumer divide

  • Urban-rural dichotomy

  • Veblenian dichotomy

  • Inequality Equity Lemma

Answer

Veblen's distinction between "institutions" and "technology" became known as the Veblenian dichotomy. This distinction is based on the idea that institutions are the rules and norms that govern society, while technology is the physical tools and machines that are used to produce goods and services. Veblen argued that the two are in a constant state of tension, with technology constantly changing and institutions struggling to adapt.
The Veblen Vibrancy: A Quiz on Thorstein Veblen's Life and Ideas

The Veblen Vibrancy: A Quiz on Thorstein Veblen's Life and Ideas

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