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Thorstein Veblen and Post-Darwinian Economics

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  • Hodgson, Geoffrey M

Abstract

Thorstein Veblen is noted for his view that economics should be an "evolutionary science." However, although the term "evolutionary" has been adopted in general terms by subsequent institutional economists, there has been remarkably little detailed exploration, informed by biology, of what Veblen meant by an "evolutionary" science and the character of the "post-Darwinian" economics that he attempted to build. This essay explores the reasons for Veblen's attachment to Darwinism, informed by developments in biology itself, and identifies some distinctive and enduring features of Veblen's evolutionary theory. Copyright 1992 by Oxford University Press.

Suggested Citation

  • Hodgson, Geoffrey M, 1992. "Thorstein Veblen and Post-Darwinian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 16(3), pages 285-301, September.
  • Handle: RePEc:oup:cambje:v:16:y:1992:i:3:p:285-301
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    Cited by:

    1. Agnès Festré & Pierre Garrouste, 2008. "L’analyse économique des normes sociales : une réévaluation de l’héritage hayékien," Revue Française d'Économie, Programme National Persée, vol. 22(4), pages 103-137.
    2. Rahmeyer Fritz, 2013. "Schumpeter, Marshall, and Neo-Schumpeterian Evolutionary Economics: A Critical Stocktaking," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(1), pages 39-64, February.
    3. Agnès Festré & Pierre Garrouste, 2009. "The economic analysis of social norms: A reappraisal of Hayek’s legacy," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(3), pages 259-279, September.
    4. Elias Khalil, 1999. "Institutions, Naturalism and Evolution," Review of Political Economy, Taylor & Francis Journals, vol. 11(1), pages 61-81.
    5. Jeroen C. J. M. van den Bergh & John M. Gowdy, 2003. "The microfoundations of macroeconomics: an evolutionary perspective," Cambridge Journal of Economics, Oxford University Press, vol. 27(1), pages 65-84, January.
    6. Villena, Mauricio G. & Villena, Marcelo J., 2004. "Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian?," MPRA Paper 28889, University Library of Munich, Germany.
    7. Gonzalo Caballero, 2004. "Instituciones e historia económica: enfoques y teorías institucionales," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 6(10), pages 135-157, January-J.
    8. repec:hal:journl:halshs-00346389 is not listed on IDEAS
    9. Pierre Garrouste, 2008. "The Emergence and Evolution of Institutions: The Complementary Approaches of Carl Menger and Thorstein Veblen," ICER Working Papers 17-2008, ICER - International Centre for Economic Research.
    10. Nicolai J. Foss, 1996. "Thorstein B. Veblen Precursor of the Competence-Based Approach to the Firm," DRUID Working Papers 96-15, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.

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