The Instinct of Workmanship and the State of the Industrial Arts Book

The Instinct of Workmanship, originally issued in 1914, is described by Murray Murphey as his "most important work." It is in this volume that the theoretical founda­tions are put forth on full display. Veblen's juxtaposition of the instinctive values of community welfare in contrast to the pecuniary values of commercial exchange was the basis of his later, more famous works. The book makes plain Veblen's basic dichotomy between technological institutions for making goods and the pecuniary institutions for making money.