T. Veblen's approach

The focus of attention of another scientist, T. Veblen (1857-1929), was a criticism of the limitations of the economic approach to consumption. Economists, he wrote, have put forward the false thesis that consumption is the ultimate goal of production, but have paid little or no attention to how consumers actually behave or what impact the […]

Major capitalist countries

USA, Japan, Germany, France, Great Britain, Italy and Canada (they are also called the Big Seven). These countries lead the world in terms of economic, scientific and technological potential, total GDP, the most diversified economies, and the largest human potential.  These countries account for about 70% of the world’s industrial output, all foreign direct investment. […]