A Veblenian Feminist Articulation of Monetary Theory of Production

Abstract

The article presents a further articulation of the monetary theory of production inspired by the writings of Thorstein Veblen. Particularly I offer a formulation of the monetary theory of production as part of broader theorizing about social provisioning and the life process. This includes an analytical focus on non-commodities; an extension of the Veblenian dichotomy to non-market activities; discussion of Veblen’s theory of social valuation in connection to monetary theory of production and class; delineation of as social processes that constitute social provisioning and their commodity and non-commodity aspects. The goal is bridging the gap between monetary theory of production and analysis of “the social.”

Keywords: Thorstein Veblen, capitalism; monetary theory of production, feminist economics, social economics; institutional economics, heterodox economics, social provisioning, social surplus, class, political economy

JEL Classification: B15, B41, B52, B54, P16, Z13