Veblen’s Stratification & Schumpeter’s Entrepreneur
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Forum 7 – Choose “one” of the following sets of question to answer:
1. Veblen’s Theory of the Leisure Class involves a two-class model of social stratification: an Industry class and a Leisure class. Briefly explain these two classes and how they compare to Marx’s two-class model of stratification? Now please look around our society today. Do we have a two-class model of social stratification that looks like Veblen’s and Marx’s models? Defend your answer – provide real world examples.
2. The entrepreneur was a central figure in Schumpeter’s analysis of economic development. How does the entrepreneur contribute to economic development? Also, please describe the dynamic nature of entrepreneurial activity and how this impacts economic development.