Theoretical Foundations of Neo-Institutionalism

The diff between orthodox & instit'al econ theory is outlined. The latter accepts (1) the concept of culture as the master principle of soc analysis, & (2) dichotomizes culture into dynamic (technological-sci'fic) & ceremonial (backward oriented) elements. This conceptual frame...

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Bibliographic Details
Published in:The American journal of economics and sociology 1968-04, Vol.27 (2), p.197-213
Main Author: Junker, Louis J.
Format: Article
Language:English
Subjects:
Analysis/Analyses/Analyzing
Cultural anthropology
Culture/Cultures/Cultural/ Culturally
Economic resources
Economic theory
Economic/Economics/Economical
Humans
Institutional economics
Institutional/Institutionalism
Legends
Natural resources
Orthodox/Orthodoxy
Pragmatism
Socioeconomics
Technology
Theory/Theories/Theorem/ Theorizing
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Summary:The diff between orthodox & instit'al econ theory is outlined. The latter accepts (1) the concept of culture as the master principle of soc analysis, & (2) dichotomizes culture into dynamic (technological-sci'fic) & ceremonial (backward oriented) elements. This conceptual frame (the Veblenian Distinction) is then used as a tool for critically examining some basic assumptions of orthodox econ theory. The individualistic orientation of traditional econ theory is the main subject for critical attention. The main stress is to show how the Veblenian Distinction can be used as a tool for soc analysis. AA.
ISSN:0002-9246
1536-7150
DOI:10.1111/j.1536-7150.1968.tb01040.x