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"Why is Economics not an Evolutionary Science?" New Answers to Veblen's Old Question

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  • Leonhard Dobusch
  • Jakob Kapeller

Abstract

Addressing the question why Economics as a discipline is not subject to evolutive processes itself, we explain the paradigmatical dominance of neoclassical theories in Economics as a path dependent process. Recognizing economics as "locked into neoclassical thinking," we first identify three positive feedback mechanisms leading to strong barriers to paradigmatic change: coordination, complementarity, and learning mechanisms. In a second step, we show how actors strategically enforce these mechanisms via distinct "amplifiers." We then try to use this theoretical perspective to cursorily describe potentially path-breaking strategies.

Suggested Citation

  • Leonhard Dobusch & Jakob Kapeller, 2009. ""Why is Economics not an Evolutionary Science?" New Answers to Veblen's Old Question," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(4), pages 867-898.
  • Handle: RePEc:mes:jeciss:v:43:y:2009:i:4:p:867-898
    DOI: 10.2753/JEI0021-3624430403
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    Citations

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    Cited by:

    1. Parada, Jairo, 2016. "Economia Pluralista para Enfrentar Crisis Contemporanea
      [Pluralist Economics to Confront Recent Crisis]
      ," MPRA Paper 72224, University Library of Munich, Germany, revised 15 May 2016.
    2. J. E. King, 2012. "Post Keynesians and Others," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 305-319, April.
    3. Jakob Kapeller & Matthias Aistleitner & Stefan Steinerberger, 2017. "Citation Patterns in Economics and Beyond: Assessing the Peculiarities of Economics from Two Scientometric Perspectives," ICAE Working Papers 60, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    4. Jakob Kapeller & Bernhard Schütz, 2015. "Conspicuous Consumption, Inequality and Debt: The Nature of Consumption-driven Profit-led Regimes," Metroeconomica, Wiley Blackwell, vol. 66(1), pages 51-70, February.
    5. Erkan Gurpinar & Altug Yalcintas, 2015. "One Long Argument in Economics: Explaining Intellectual Inertia in terms of Evolutionary Ontology," STOREPapers 2_2015, Associazione Italiana per la Storia dell'Economia Politica - StorEP.
    6. Glötzl, Florentin & Aigner, Ernest, 2017. "Six Dimensions of Concentration in Economics: Scientometric Evidence from a Large-Scale Data Set," Ecological Economic Papers 5488, WU Vienna University of Economics and Business.
    7. Florentin GLOETZL & Ernest AIGNER, 2017. "Six Dimensions of Concentration in Economics: Scientometric Evidence from a Large-Scale Data Set," Ecological Economics Papers ieep15, Institute of Ecological Economics.
    8. Claudius Graebner, 2017. "The Complexity of Economies and Pluralism in Economics," ICAE Working Papers 69, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    9. Christian Grimm & Jakob Kapeller & Stephan Puehringer, 2017. "Zum Profil der deutschsprachigen Volkswirtschaftslehre: Paradigmatische Ausrichtung und politische Orientierung deutschsprachiger Oekonom_innen (On the current state of German-speaking Economics: Para," ICAE Working Papers 70, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    10. Jairo Parada Corrales, 2016. "Economía pluralista para enfrentar la crisis contemporánea," REVISTA DE ECONOMÍA DEL CARIBE 014795, UNIVERSIDAD DEL NORTE.
    11. Christian Grimm & Jakob Kapeller & Stephan Puehringer, 2018. "Paradigms and Policies: The state of economics in the german-speaking countries," ICAE Working Papers 77, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    12. Quaas, Georg & Klein, Mathias, 2010. "Is the Phillips Curve of Germany Spurious?," MPRA Paper 26604, University Library of Munich, Germany.

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