The Institutional Distancing from the Classicism
Criticism of the fundamental classical postulates is the main focus of attention of the institutional theory. In their works, a number of representatives of the institutionalism have expresses their strong disagreement with the hedonistic principles of profit and loss as being the primary motivating factors guiding human behavior. The main classical concepts have developed from relatively old tendencies, which have been dominating the way of thinking in XVII - XVIII century period. Due to its strong connection with the spiritual order the classical economic, theory places the main focus on the individual rather than the group. Leading institutionalists question this view and embrace the idea, that individual's behavior can only be manifested in a social environment. This and other characteristics, present the classical theory in a static format, unable to react adequately to the dynamics of the social and economic development. Among the fiercest critics of classicism are Clarence E. Ayres and Thorstein Veblen. In this respect, the following article gives an unconventional view on some of the renowned representatives of the institutionalism with their well-grounded criticism of the classical orthodoxy.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): (2007)
Issue (Month): 7 ()
|Contact details of provider:|| Postal: |
Phone: (+359 2) 810 40 18
Fax: (+359 2) 988 21 08
Web page: http://www.iki.bas.bg
More information through EDIRC
References listed on IDEAS
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.:
- Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
When requesting a correction, please mention this item's handle: RePEc:bas:econth:y:2007:i:7:p:144-161. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diana Dimitrova)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.