Marx and Veblen on Human Nature, History, and Capitalism: Vive la Différence

It is demonstrated that the recent attempts by Davis (1980) and Hunt (1979) to revise the Marx-Veblen relationship should be resisted. Marx's and Veblen's fundamental assumptions and methodologies, it is argued, were quite different. Thus, while there are some similarities, they are at the periphery and not at the core of their contributions and therefore are not striking. Hence, although certain elements of their analyses of capitalism co-join, their views on its trajectory contrast markedly. The basic dissimilarities between Marx and Veblen therefore mean that attempts at a serious synthesis, such as along the lines suggested by Hunt, are problematic and if achieved would bear little resemblance to the original Marx or Veblen. It should be remembered that Veblen rejected both orthodox and Marxian economics and found a tradition of evolutionary economics as an alternative to both.