The Emergence and Evolution of Institutions: The Complementary Approaches of Carl Menger and Thorstein Veblen
This paper is an attempt to compare Carl Menger and Thorstein Veblen,’s conceptions of institutions. It is shown that although Menger stresses on the emergence of institutions, Veblen is much aware of analyzing their evolution. On this basis the idea of a dialogue between the two authors is propose and its characteristics are presented.
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- Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
- Walker, Donald A, 1977. "Thorstein Veblen's Economic System," Economic Inquiry, Western Economic Association International, vol. 15(2), pages 213-37, April.
- Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-31, March.
- Hodgson, Geoffrey M, 1992. "Thorstein Veblen and Post-Darwinian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 16(3), pages 285-301, September.
- Gerald P. O'Driscoll, Jr., 1986. "Money: Menger's Evolutionary Theory," History of Political Economy, Duke University Press, vol. 18(4), pages 601-616, Winter.
- Malcolm Rutherford, 1984. "Thorstein Veblen and the Processes of Institutional Change," History of Political Economy, Duke University Press, vol. 16(3), pages 331-348, Fall.
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