We have economist Thorstein Veblen to thank for his insight into the social relationship at the heart of capitalism.
Veblen understood that there were two sides to capitalist economic production, which he named “industry” and “business.” The goal of industry, the workers actually making things, is to quickly and efficiently meet the needs of the public. The goal of business, the capitalists who own industry, is to generate profits. Business generates profits, Veblen realized, by interfering with industry—a process he labeled “industrial sabotage.”
People who have their needs quickly and efficiently met don’t have much of a reason to keep buying things, or to pay high prices for the things they want. So business—capitalists—need to make sure people do not have their needs quickly and efficiently met.
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