The Emergence and Evolution of Institutions: The Complementary Approaches of Carl Menger and Thorstein Veblen
AbstractThis paper is an attempt to compare Carl Menger and Thorstein Veblen,’s conceptions of institutions. It is shown that although Menger stresses on the emergence of institutions, Veblen is much aware of analyzing their evolution. On this basis the idea of a dialogue between the two authors is propose and its characteristics are presented.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 17-2008.
Length: 38 pages
Date of creation: Jun 2008
Date of revision:
Menger; Veblen; institutions; evolution; emergence;
Find related papers by JEL classification:
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-03 (All new papers)
- NEP-HPE-2009-06-03 (History & Philosophy of Economics)
- NEP-PKE-2009-06-03 (Post Keynesian Economics)
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.:
- Walker, Donald A, 1977. "Thorstein Veblen's Economic System," Economic Inquiry, Western Economic Association International, vol. 15(2), pages 213-37, April.
- Gerald P. O'Driscoll, Jr., 1986. "Money: Menger's Evolutionary Theory," History of Political Economy, Duke University Press, vol. 18(4), pages 601-616, Winter.
- Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-31, March.
- Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
- Hodgson, Geoffrey M, 1992. "Thorstein Veblen and Post-Darwinian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 16(3), pages 285-301, September.
- 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.
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