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Structural change driven by institutions: Thorstein veblen revised

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  • Davanzati, Guglielmo Forges

Abstract

The aim of this paper is to provide a theoretical framework where, starting from the analysis of the behaviour of the firm in a Veblenian perspective, income distribution is primarily determined by technological factors, and where distributive conflicts (involving technicians vs. businessmen and workers vs. the leisure class) play a crucial role. The schema is intended to connect the works of Thorstein Veblen in the belief that the picture he presents in The theory of the leisure class is the “general case” with respect to the topics dealt with in his subsequent works

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  • Davanzati, Guglielmo Forges, 2018. "Structural change driven by institutions: Thorstein veblen revised," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 105-110.
    • Handle: RePEc:eee:streco:v:45:y:2018:i:c:p:105-110
    DOI: 10.1016/j.strueco.2018.03.002
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    1. Paul D. Bush, 1987. "The Theory of Institutional Change," Journal of Economic Issues, Taylor & Francis Journals, vol. 21(3), pages 1075-1116, September.
    2. Helge Peukert, 2005. "The Clarence Ayres Memorial Lecture: The Paradoxes of Happiness in an Old Institutionalist Perspective," Journal of Economic Issues, Taylor & Francis Journals, vol. 39(2), pages 335-345, June.
    3. Veblen, Thorstein, 1921. "The Engineers and the Price System," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1921.
    4. Christian Cordes, 2005. "Veblen’s “Instinct of Workmanship,” Its Cognitive Foundations, and Some Implications for Economic Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 39(1), pages 1-20, March.
    5. Samuel Bowles & Yongjin Park, 2005. "Emulation, Inequality, and Work Hours: Was Thorsten Veblen Right?," Economic Journal, Royal Economic Society, vol. 115(507), pages 397-412, November.
    6. Asso, Pier Francesco & Fiorito, Luca, 2004. "Human Nature and Economic Institutions: Instinct Psychology, Behaviorism, and the Development of American Institutionalism," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(4), pages 445-477, December.
    7. Harold Wolozin, 2005. "Thorstein Veblen and Human Emotions: An Unfulfilled Prescience," Journal of Economic Issues, Taylor & Francis Journals, vol. 39(3), pages 727-740, September.
    8. Thorstein Veblen, 1908. "On the Nature of Capital," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 22(4), pages 517-542.
    9. Malcolm Rutherford, 1984. "Thorstein Veblen and the Processes of Institutional Change," History of Political Economy, Duke University Press, vol. 16(3), pages 331-348, Fall.
    10. Thorstein Veblen, 1908. "On the Nature of Capital: Investment, Intangible Assets, and the Pecuniary Magnate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 23(1), pages 104-136.
    11. Dudley Dillard, 1987. "Money as an Institution of Capitalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 21(4), pages 1623-1647, September.
    12. Malcolm Rutherford, 1980. "Veblen on Owners, Managers, and the Control of Industry," History of Political Economy, Duke University Press, vol. 12(3), pages 434-440, Fall.
    13. Thorstein Veblen, 1899. "Mr. Cummings's Strictures on "The Theory of the Leisure Class"," Journal of Political Economy, University of Chicago Press, vol. 8, pages 106-106.
    14. Veblen, Thorstein, 1892. "Böhm-Bawerk's Definition of Capital and the Source of Wages," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 6.
    15. Graziani,Augusto, 2003. "The Monetary Theory of Production," Cambridge Books, Cambridge University Press, number 9780521812115.
    16. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    17. Thorstein Veblen, 1905. "Credit and Prices," Journal of Political Economy, University of Chicago Press, vol. 13, pages 460-460.
    18. Rick Tilman, 2006. "Colin Campbell on Thorstein Veblen on Conspicuous Consumption," Journal of Economic Issues, Taylor & Francis Journals, vol. 40(1), pages 97-112, March.
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    Cited by:

    1. Oleg S. Sukharev, 2022. "Institutional adjustments in management: A theoretical-methodological approach," Upravlenets, Ural State University of Economics, vol. 13(1), pages 37-48, March.
    2. Oleg S. Sukharev, 2021. "Functional approach in decision-making: Dysfunction and efficiency of rules and systems," Upravlenets, Ural State University of Economics, vol. 12(1), pages 2-17, March.

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    More about this item

    Keywords

    B15; B31; D21; D30; Structural change; Institutions; Veblen;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D30 - Microeconomics - - Distribution - - - General

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