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By Thorstein Veblen

Absentee possession is an inquiry into financial situations as they've got taken form within the 20th century, fairly as exemplified with regards to 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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Additional resources for Absentee Ownership and Business Enterprise in Recent Times: The Case of America

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America's unexampled resources have enabled this nation to carry a heavier handicap of arti­ ficial disabilities than the others. Presumably it is not that the Americans are endowed with a larger capacity for clannishness and self-deception. Certain considerations bearing on the case of mer­ cantilism in America may be called to mind to e;xplain and exculpate the peculiarly shameless abandon with which that ancient policy of damage and defeat continues to be pursued by this nation. America has by nature been endowed with unexampled resources, which have hitherto enabled this people to find an easy livelihood in spite of their costly and vexatious tariffs and their equally thriftless land policy.

Instead of a master workman, he became a business man engaged in a quest of profits, very much after the pattern of business men engaged in ·commercial enterprise. The result was that investment and absentee ownership presently became the rule in the mechanical industries, as it already was the rule in com­ merce and as it had long been the rule in husbandry. This rearrangement of economic factors, and division of economic activities, was brought on by the increasing :scale of the industrial plant and operations, wherever and so far as the new technology of the machine process took ·effect.

It was absentee ownership, and would be recognised as such by anyone looking back to the facts of that time from the stand­ point of the present; but it does not appear to have seemed so, at least not obtrusively so, to the men of that time, who had to do with the industrial situation as it then lay before them. Absenteeism was not the main and obvious feature of the case. 8 But with the transition to the machine industry and the factory system the business organisation of industry which shows the qualifications and daily occupation of a mer­ chant of the larger sort at the middle of the sixteenth Century.

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