ABSTRACT
The basic structure of the mind is such that in the "untutored" and "unsophisticated" apperception of the object, it is beautiful if the action of the mind in unfolding its activity is "facile" and unhindered. Thorstein Veblen rejected the hedonistic view of classical economics and sought to fashion an adaptation of the New Psychology that could serve his own purposes. The crucial point about the instinct psychology for Veblen is that it solves the problem of values. Veblen's writings on race have to be seen in the context of the social and biological theories of his time. Economics deals with the physical welfare of man; it is therefore concerned with the activities that contribute to human flourishing–particularly with the production of goods that provide nutrients to man. Agricultural products therefore have value for they contribute to the well-being of the race.
