For my contribution to Berle II, I have chosen to highlight the need for further research into the connection between The Modern Corporation and Private Property and the work of Thorstein Veblen, the father and intellectual inspiration of institutional economics. While the connection between Veblen and Modern Corporation is indisputable, the meaning of that connection has not been explored in any depth. I will provide a framework for thinking about the nature of Veblen’s influence on Modern Corporation and suggest that further research on Veblen’s influence would be most fruitful. I will then provide an initial account of how Veblen’s work may help us understand what Berle intended to convey in Modern Corporation.
Charles R.T. O'Kelley, Berle and Veblen: An Intellectual Connection, 34 SEATTLE U. L. REV. 1317 (2011).