Editing Thorstein Veblen (section)

===Veblenian dichotomy<!--'Veblenian dichotomy' redirects here-->===
The '''Veblenian dichotomy'''<!--boldface per WP:R#PLA--> is a concept that Veblen first suggested in ''[[The Theory of the Leisure Class]]'' (1899), and made fully into an analytical principle in ''[[The Theory of Business Enterprise]]'' (1904).<ref>William T. Waller Jr. "The Evolution of the Veblenian Dichotomy," ''Journal of Economic Issues'' 16, 3 (Sept. 1982): 757–71</ref> To Veblen, institutions determine how [[technology|technologies]] are used. Some institutions are more "[[ceremony|ceremonial]]" than others. A project for Veblen's idealized economist is to identify institutions that are too wasteful and pursue institutional "adjustment" to make instituted uses of technology more "instrumental".<ref name=":2" />

Veblen defines "ceremonial" as related to the past, supportive of "tribal legends" or traditional conserving attitudes and conduct; while the "instrumental" orients itself toward the technological imperative, judging value by the ability to control future consequences.<ref name=":2">J. Fagg Foster, "The Theory of Institutional Adjustment," ''Journal of Economic Issues'' 15, 4 (Dec. 1981): 923–28</ref>

The theory suggests that, although every society depends on tools and skills to support the life process, every society also appears to have a "ceremonial" stratified structure of status that runs contrary to the needs of the "instrumental" (technological) aspects of group life.<ref>{{Cite web|url=http://www.utmark.org/utgivelser/pub/2006-2/art/Arnesen_2_Utmark_2_2006.html|title=Thorstein Veblen – A Critic of Society, Tradition and Technology|website=www.utmark.org|accessdate=August 1, 2022|archive-date=March 8, 2008|archive-url=https://web.archive.org/web/20080308200613/http://www.utmark.org/utgivelser/pub/2006-2/art/Arnesen_2_Utmark_2_2006.html|url-status=dead}}</ref> The Veblen Dichotomy is still very relevant today and can be applied to thinking around digital transformation.<ref>{{Cite web|url=https://www.linkedin.com/pulse/digital-transformation-economic-social-cultural-chris-goodman|title=Digital Transformation – Economic, Social and Cultural Considerations|website=www.linkedin.com|accessdate=August 1, 2022}}</ref>