IDEAS home Printed from https://ideas.repec.org/a/mes/jeciss/v43y2009i2p293-307.html
   My bibliography  Save this article

The Neoinstitutionalist Theory of Value

Author

Listed:
  • Paul Bush

Abstract

Neoinstitutional thought is based on an integration of Thorstein Veblen's evolutionary theory of institutional change and John Dewey's theory of instrumental valuation. It offers a coherent methodology that guides both economic analysis and policy formation. Neoinstitutionalist methodology differs from mainstream economic methodology in its rejection of the normative-positive dualism. It denies that "objectivity" requires that science be wertfrie, arguing instead that normative propositions based on instrumental valuation are the foundation of scientific objectivity. The analytical focus of neoinstitutional economics is the process of institutional change which it treats as a change in the value structure of the institution.

Suggested Citation

  • Paul Bush, 2009. "The Neoinstitutionalist Theory of Value," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(2), pages 293-307.
    • Handle: RePEc:mes:jeciss:v:43:y:2009:i:2:p:293-307
    DOI: 10.2753/JEI0021-3624430202
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2753/JEI0021-3624430202
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.2753/JEI0021-3624430202?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Groenewegen, John, 2022. "Institutional form (blueprints) and institutional function (process): Theoretical reflections on property rights and land," Land Use Policy, Elsevier, vol. 121(C).
    2. John Groenewegen, 2011. "Evolution and Design of Institutions Supporting Liberalization," Chapters, in: Matthias Finger & Rolf W. Künneke (ed.), International Handbook of Network Industries, chapter 5, Edward Elgar Publishing.

    More about this item

    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:mes:jeciss:v:43:y:2009:i:2:p:293-307. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MJEI20 .

    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.