IDEAS home Printed from https://ideas.repec.org/a/wea/econth/v9y2020i1p48.html

The Psychological Contributions of Pragmatism and of Original Institutional Economics and their Implications for Policy Action

Author

Listed:
  • Arturo Hermann

    (Italian National Institute of Statistics, Rome, Italy)

Abstract

The aim of this work is to illustrate the psychological contributions of Pragmatism and of the Original Institutional Economics (also referred to as OIE or institutionalism), and their relevance for improving the process of social valuing and, as a consequence, the effectiveness of policy action. As a matter of fact, both institutionalist and pragmatist theories were well acquainted with various strands of psychology, and some of them also provided relevant contributions in this respect. Moreover, these theories reveal, along with various differences, significant complementarities, both between themselves and with important concepts of social psychology and psychoanalysis. The work will address the following aspects: (I) The main characteristics of pragmatist psychology with particular attention to their social implications. For space reasons, we will focus attention on the contributions of authors – John Dewey, William James and George Herbert Mead – more oriented to social sciences. (II) The psychological contributions of institutionalism. We will pay particular attention to Thorstein Veblen's theory of instincts and John Rogers Commons' theory of negotiational psychology. We highlight that these theories present, despite a number of differences, relevant complementarities.

Suggested Citation

  • Arturo Hermann, 2020. "The Psychological Contributions of Pragmatism and of Original Institutional Economics and their Implications for Policy Action," Economic Thought, World Economics Association, vol. 9(1), pages 48-71, July.
    • Handle: RePEc:wea:econth:v:9:y:2020:i:1:p:48
    as

    Download full text from publisher

    File URL: http://et.worldeconomicsassociation.org/papers/the-psychological-contributions-of-pragmatism-and-of-original-institutional-economics-and-their-implications-for-policy-action/
    Download Restriction: no
    File URL: http://et.worldeconomicsassociation.org/files/2020/07/WEA-ET-9.1-Hermann.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    2. Geoffrey M. Hodgson & Warren J. Samuels & Marc R. Tool (ed.), 1994. "The Elgar Companion to Institutional and Evolutionary Economics," Books, Edward Elgar Publishing, volume 0, number 228.
    3. Arturo Hermann, 2018. "The Decline of the 'Original Institutional Economics' in the Post-World War II Period and the Perspectives of Today," Economic Thought, World Economics Association, vol. 7(1), pages 63-86, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    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.

    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. Tae-Hee Jo, 2021. "Veblen’s evolutionary methodology and its implications for heterodox economics in the calculable future," Review of Evolutionary Political Economy, Springer, vol. 2(2), pages 277-295, July.
    2. Elsner, Wolfram & Schwardt, Henning, 2015. "The (dis-)embedded firm: Complex structure and dynamics in inter-firm relations. Adding institutionalization as a Veblenian dimension to the Coase-Williamson approach – An emerging triangular organizational space," MPRA Paper 67193, University Library of Munich, Germany.
    3. Arturo Hermann, 2015. "La Theory of Business Enterprise di Thorstein Veblen e la sua rilevanza per i problemi attuali," Il Pensiero Economico Moderno, University of Camerino, School of Law, vol. 35(1-2), pages 61-90, January-A.
    4. Tae-Hee Jo, 2013. "Saving Private Business Enterprises," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(2), pages 447-467, April.
    5. Yefimov, Vladimir, 2009. "Comparative historical institutional analysis of German, English and American economics," MPRA Paper 48173, University Library of Munich, Germany.
    6. repec:mje:mjejnl:v:12:y:2017:i:2:p:25-70 is not listed on IDEAS
    7. 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.
    8. Gordon Burt, 1997. "Cultural Convergence in Historical Cultural Space-Time," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 21(4), pages 291-305, December.
    9. 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.
    10. Arturo Hermann, 2016. "The Studies in Social Economics of Léon Walras and his far-reaching critique of laissez faire," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 7(1), pages 59-76.
    11. Pirozzi Maria Grazia & Agliata Francesco & Tuccillo Danilo & Pirozzi Francesco, 2021. "Defining the Integrated Performance Measurement Systems in Small and Medium Enterprises: An Advanced Model," International Journal of Business and Management, Canadian Center of Science and Education, vol. 14(12), pages 203-203, July.
    12. Hugh Rockoff, 2008. "Great Fortunes of the Gilded Age," NBER Working Papers 14555, National Bureau of Economic Research, Inc.
    13. Marie-Laure Salles-Djelic & Sigrid Quack, 2004. "Governing Globalization – Bringing Institutions Back In," Post-Print hal-01892007, HAL.
    14. Anastassios D. Karayiannis & Allan E. Young, 2003. "Entrepreneurial Activities in a Veblenian Type Transition Economy," The American Economist, Sage Publications, vol. 47(2), pages 40-51, October.
    15. F. Gregory Hayden, 1989. "Institutionalism for What: To Understand Inevitable Progress or for Policy Relevance?," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(2), pages 633-645, June.
    16. Eric R. Hake, 1998. "Financial Innovation as Facilitator of Merger Activity," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(1), pages 145-170, March.
    17. Frédéric Hanin, 2003. "La place du Treatise on Money dans l’oeuvre de Keynes : une théorie de l’instabilité," L'Actualité Economique, Société Canadienne de Science Economique, vol. 79(1), pages 71-86.
    18. Beckenbach, Frank, 2019. "Monism in modern science: The case of (micro-)economics," Working Paper Serie des Instituts für Ökonomie Ök-49, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.
    19. Mark Gertler, 1988. "Financial structure and aggregate economic activity: an overview," Proceedings, Federal Reserve Bank of Cleveland, pages 559-596.
    20. Claude Diebolt, 2009. "Business Cycle Theory before Keynes," Working Papers 09-11, Association Française de Cliométrie (AFC).
    21. Kirrane, Chris, 2018. "What Caused the Asian Currency?," MPRA Paper 93643, University Library of Munich, Germany.

    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:wea:econth:v:9:y:2020:i:1:p:48. 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: Jake McMurchie (email available below). General contact details of provider: https://edirc.repec.org/data/worecea.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.