Is Economics an Evolutionary Science?: The Legacy of Thorstein Veblen (Elgar Monographs)
By: Mark Perlman (editor), Francisco Louca (editor)Hardback
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Thorstein Veblen has made an immeasurable impact on the development of economics. His legacy has been to challenge orthodox thinking and inspire the institutionalist and evolutionary school of thought. In this book, a distinguished group of contributors analyzes the impact, a century later, of Veblen's 1898 challenge to economics. The authors examine the contribution of Veblen and some of his disciples to heterodox economics. They also reassess other contemporaneous discussions and contributions by other authors - Mitchell, Ayres, Commons, Keynes, Schumpeter, Tinbergen, Frisch - and present an overview of the state of the art in evolutionary economics.
Part 1 Veblen's challenge: mind-sets, and why Veblen was ineffectual, Mark Perlman; how can economics be an institutional-evolutionary science?, Phillip O'Hara; Thorstein Veblen and the political economy of the ordinary - hope and despair, Alan W. Dyer; Veblen and theories of the "firm", Anne Mayhew; institutional economics and the specificity of social evolution -about the contribution of J.R. Commons, Laure Bazzoli; the significance of Clarence Ayres and the Texas School, James R. Stanfield and Jacqueline B. Stanfield; bounded rationality, institutionalism and the diversity of economic institutions, Ugo Pagano; is economics an evolutionary science?, Frank Hahn. Part 2 The challenge reconsidered: the travelling salesman returns from the war - Tjalink Koopmans and the wartime studies for peacetime applications, Albert Jolink; is capitalism doomed? a Nobel discussion, Francisco Louca; an institutionalist foundation for development studies - rethinking Polyani and Veblen on the "Sonderweg", Eyup Ozveren; the future's unknowability - Keynes's probability, probable knowledge and the decision to innovate, Marco Crocc. Part 3 Perspectives: institutions, increasing returns and endogenous growth, J.S. Metcalfe.
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- ID: 9781840641950
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