Institutions, Naturalism and Evolution
AbstractThe paper recasts old and new institutionalist economics (OIE and NIE) in light of naturalism. While OIE views institutions as 'paradigms' which define the nature of the actor, NIE views institutions as 'conventions' which act as insubstantial traits, i.e. products of optimization subject to constraint. While the two conceptions are different, they are not alternatives: each one is a special theory limited to one kind of institution. In addition, the paper critically assesses the limits of OIE with regard to the theory of evolution of paradigms. The paper advances a developmentalist perspective of institutions which parallels non-Darwinian biological theory.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Review of Political Economy.
Volume (Year): 11 (1999)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://taylorandfrancis.metapress.com/link.asp?target=journal&id=102233
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Khalil, Elias L, 1996. "Friedrich Hayek's Darwinian Theory of Evolution of Institutions: Two Problems," Australian Economic Papers, Wiley Blackwell, vol. 35(66), pages 183-201, June.
- Rutherford,Malcolm, 1994.
"Institutions in Economics,"
Cambridge University Press, number 9780521451895, November.
- Khalil, Elias L., 1995. "The socioculturalist agenda in economics: Critical remarks of Thorstein Veblen's legacy," The Journal of Socio-Economics, Elsevier, vol. 24(4), pages 545-569.
- Hodgson, Geoffrey M, 1992. "Thorstein Veblen and Post-Darwinian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 16(3), pages 285-301, September.
- Khalil, Elias L., 1996. "What is Economic Action? From Marshall and Robbins to Polanyi and Becker," Journal of the History of Economic Thought, Cambridge University Press, vol. 18(01), pages 13-36, March.
- Khalil, Elias L, 1997. "Is the Firm an Individual?," Cambridge Journal of Economics, Oxford University Press, vol. 21(4), pages 519-44, July.
- Langlois,Richard, 1989. "Economics as a Process," Cambridge Books, Cambridge University Press, number 9780521378598, November.
- Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
- Warren J. Samuels, 1991. ""Truth" and "Discourse" in the Social Construction of Economic Reality: An Essay on the Relation of Knowledge to Socioeconomic Policy," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 13(4), pages 511-524, July.
- Elias L. Khalil, 1995. "Has Economics Progressed? Rectilinear, Historicist, Universalist, and Evolutionary Historiographies," History of Political Economy, Duke University Press, vol. 27(1), pages 43-87, Spring.
- Boettke, Peter & Fink, Alexander, 2011.
Journal of Institutional Economics,
Cambridge University Press, vol. 7(04), pages 499-504, December.
- Richard W. Ault & Robert B. Ekelund, Jr., 1988. "Habits in economic analysis: Veblen and the neoclassicals," History of Political Economy, Duke University Press, vol. 20(3), pages 431-445, Fall.
- Malcolm Rutherford, 2001. "Institutional Economics: Then and Now," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 173-194, Summer.
- Field, Alexander James, 1981. "The problem with neoclassical institutional economics: A critique with special reference to the North/Thomas model of pre-1500 Europe," Explorations in Economic History, Elsevier, vol. 18(2), pages 174-198, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.