Veblen’s Vested Interest and Power

Abstract

With this inquiry I shall seek to establish that Thorstein Veblen advanced theories which related the vested interests with power. To accomplish this I shall first dissect the meanings behind Veblen’s definitions of "the vested interest", "intangible assets" and "free income." I then, using the previous analysis relate the state to vested interests and solidify their collective unity. After this connection I proceed onto analyzing the implications of the vested interest and how it relates to the common man. Power, normally analyzed within the context of political science is rarely spoken of within economics, this analysis strives to bring the idea of power into the realm of economics through Thorstein Veblen’s work, The Vested Interest and the Common Man [1919].