IDEAS home Printed from https://ideas.repec.org/a/bus/jphile/v17y2024i1n9.html

Towards a Contemporary Philosophical Re-interpretation of Thorstein Veblenʼs Theory of Instincts and Institutions: An Axiomatic Approach

Author

Listed:
  • Uroš Kranjc

    (Institute of Philosophy, Research Centre of the Slovenian Academy of Sciences and Arts, Slovenia)

Abstract

The break of the twentieth century has seen two fundamental theories challenging the fields of mathematics and (heterodox) economics-(ZFC) Set theory and Veblenʼs Institutionalist economics. Although no direct relationship between these diverse projects has ever been documented, this paper argues that Veblenʼs appropriation of psychological traits and instincts, resulting in a comprehensive social theory of institutional frameworks, utilizes a mode of axiomatic thinking analogous to constructing sets in mathematics. Contemporary philosophy and psychology have only recently shown how their theoretical cores can relate to set theory, potentially retroactively uncovering how Veblenʼs mode of thinking the relation instincts-habits of thought-institutions could be philosophically interpreted anew. This mode of inquiry thus also exposes the overarching, albeit implicit, aim of this paperto outline the preliminary steps towards a (continental) philosophically inspired critical theory of institutions relating to the critique of political economy.

Suggested Citation

  • Uroš Kranjc, 2024. "Towards a Contemporary Philosophical Re-interpretation of Thorstein Veblenʼs Theory of Instincts and Institutions: An Axiomatic Approach," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 17(1), pages 244-280, Annual.
    • Handle: RePEc:bus:jphile:v:17:y:2024:i:1:n:9
    DOI: 10.46298/jpe.13067
    as

    Download full text from publisher

    File URL: https://jpe.episciences.org/14042/pdf
    Download Restriction: no
    File URL: https://doi.org/10.46298/jpe.13067
    Download Restriction: no
    File URL: https://libkey.io/10.46298/jpe.13067?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Geoffrey M. Hodgson, 2006. "Instinct and Habit Before Reason: Comparing the Views of John Dewey, Friedrich Hayek and Thorstein Veblen," Advances in Austrian Economics, in: Cognition and Economics, pages 109-143, Emerald Group Publishing Limited.
    2. Geoffrey M. Hodgson & Elisabeth Krecké & Carine Krecké & Roger G. Koppl, 2006. "Instinct and Habit Before Reason: Comparing the Views of John Dewey, Friedrich Hayek and Thorstein Veblen," Advances in Austrian Economics, in: Cognition and Economics, pages 109-143, Emerald Group Publishing Limited.
    3. Felipe Almeida, 2015. "The psychology of early institutional economics: The instinctive approach of Thorstein Veblen's conspicuous consumer theory," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 16(2), pages 226-234.
    4. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arturo Hermann, 2023. "The Interpretation of Ownership: Insights from Original Institutional Economics, Pragmatist Social Psychology and Psychoanalysis," Economic Thought, World Economics Association, vol. 11(1), pages 15-36, April.
    2. Noriko Ishida, 2021. "Thorstein Veblen on economic man: toward a new method of describing human nature, society, and history," Evolutionary and Institutional Economics Review, Springer, vol. 18(2), pages 527-547, September.
    3. Brette, Olivier & Buhler, Thomas & Lazaric, Nathalie & Marechal, Kevin, 2014. "Reconsidering the nature and effects of habits in urban transportation behavior," Journal of Institutional Economics, Cambridge University Press, vol. 10(3), pages 399-426, September.
    4. Bernard Yeung & Randall Morck & Daniel Wolfenzon, 2004. "Corporate Governance, Economic Entrenchment and Growth," Working Papers 04-21, New York University, Leonard N. Stern School of Business, Department of Economics.
    5. Tae-Hee Jo, 2013. "Saving Private Business Enterprises," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(2), pages 447-467, April.
    6. Kirsten Ford & William McColloch, 2011. "Thorstein Veblen: A Marxist Starting Point," Working Paper Series, Department of Economics, University of Utah 2011_11, University of Utah, Department of Economics.
    7. Bricker, Robert & Chandar, Nandini, 2000. "Where Berle and Means went wrong: a reassessment of capital market agency and financial reporting," Accounting, Organizations and Society, Elsevier, vol. 25(6), pages 529-554, August.
    8. Richard Nielsen, 2013. "Whistle-Blowing Methods for Navigating Within and Helping Reform Regulatory Institutions," Journal of Business Ethics, Springer, vol. 112(3), pages 385-395, February.
    9. Stephen P. Dunn, 2002. "The Origins of the Galbraithian System: Stephen P. Dunn in Conversation with J.K. Galbraith," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 24(3), pages 347-365, March.
    10. Jack High, 2011. "Dr. Anderson and the Austrians: Price formation as a cumulative process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 199-211, June.
    11. Robert D. Ley & L. E. Johnson, 1990. "Selecting Social Goals: Alternative Concepts of Rationality: Both the Orthodox and the Heterodox Must Be Able to Explain the Origin and Significance of Values," American Journal of Economics and Sociology, Wiley Blackwell, vol. 49(4), pages 469-481, October.
    12. Brennan, Jordan, 2013. "The Power Underpinnings, and Some Distributional Consequences, of Trade and Investment Liberalisation in Canada (Preprint)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 18(5), pages 715-747.
    13. Valentinov, Vladislav, 2023. "Stakeholder theory: Toward a classical institutional economics perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 188(1), pages 75-88.
    14. Geoffrey M. Hodgson, 2003. "Darwinism and Institutional Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 37(1), pages 85-97, March.
    15. Alexander Antony Dunlap, 2015. "The Expanding Techniques of Progress: Agricultural Biotechnology and UN-REDD+," Review of Social Economy, Taylor & Francis Journals, vol. 73(1), pages 89-112, March.
    16. David Hamilton, 1994. "TEP Plus Fifty," Journal of Economic Issues, Taylor & Francis Journals, vol. 28(4), pages 1277-1287, December.
    17. Douglas F. Dowd, 1994. "Against Decadence: The Work of Robert A. Brady (1901-63)," Journal of Economic Issues, Taylor & Francis Journals, vol. 28(4), pages 1031-1061, December.
    18. Clyde W. Barrow, 1998. "State Theory and the Dependency Principle: An Institutionalist Critique of the Business Climate Concept," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(1), pages 107-144, March.
    19. Fix, Blair, 2018. "Energy, Hierarchy and the Origin of Inequality," SocArXiv v9pur, Center for Open Science.
    20. Jan Toporowski & Jo Michell (ed.), 2012. "Handbook of Critical Issues in Finance," Books, Edward Elgar Publishing, number 14083, August.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bus:jphile:v:17:y:2024:i:1:n:9. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Cojanu (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.