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By Thorstein Veblen

Absentee possession is an inquiry into fiscal conditions as they've got taken form within the 20th century, really as exemplified on the subject of the United States. in response to Thorstein Veblen, absentee possession is the most and speedy controlling curiosity within the lifetime of civilied males.

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Extra resources for Absentee Ownership and Business Enterprise in Recent Times: The Case of America

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Indeed it is the boast of the present, latest trary, and presumably best, Federal Administration in this country that this is altogether a Business Administration; and this is no idle boast. Its legal findings as well as its legislative and adminis­ trative measures have run admirably true to the form so set up. Always, night and day, the peculiar care of the Administration is now and ever shall be the profitable activity of the nation's business concerns, more particularly the larger concerns with a large capitalisation and a substantial rate of earnings.

But included in the scheme of ownership as it stands in recent times there is also an alien strain, not war­ ranted by the principles of Natural Right and not trace­ able to workmanship. -rests not on a natural right of workmanship but on the ancient feudalistic ground of privilege and prescriptive tenure, vested interest, which runs back to the right of seizure by force and collusion. The owners of these natural resources own them not by virtue of their having produced or earned them, nor on the workmanlike ground that they are making use of these useful things in productive work.

3I National Integrity and dissension alone and working at random could have brought the affairs of the democratic nations to this pass, but they have also not been left to work out their own qualities unguided and unblended. Since and so far as the anointed princes have ceased to provide an interested motive for fomenting and mobilising international jeal­ ousies, statesmen have found a substitute in the pursuit of business interests. ought for commercial dominion. When na­ tional inflation is compounded with business enterprise bent on getting something for nothing at any cost, the product is that democratic "Imperialism" that is now car­ rying on the ancient traffi� of statecraft.

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