TITLE

The Beginnings of Institutionalism

AUTHOR(S)
Mayhew, Anne
PUB. DATE
September 1987
SOURCE
Journal of Economic Issues (Association for Evolutionary Economi;Sep87, Vol. 21 Issue 3, p971
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the origins of the institutionalism in the context of the economic and intellectual history of nineteenth century U.S. The accelerating urbanization, corporate industrialization and more activist government reflected a profound change in the character of the economy and marked the end of laissez faire. Concurrently a new social science appeared in which attention was focused on four critical ideas including evolution, culture, cultural relativity and instrumental valuing, all of which became prominent in the writings of the early institutionalists including Thorstein Veblen and John R. Commons. The article does not see the emergence of institutionalism primarily as a by-product of the social reform movements of that period, or as an articulation of the frontier experience, nor as a transplantation of the German Historical School's canons to American shores. It is considered rather a creative replacement of prevailing social and economic doctrine by a post-Darwinian revamping of social inquiry. The essay identifies the central idea of social inquiry, where institutional heterodoxy emerges as a fundamental departure from neoclassical orthodoxy in quest of a more theoretically adequate and policy-oriented approach.
ACCESSION #
4671124

 

Share

Read the Article

Courtesy of NEW JERSEY STATE LIBRARY

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics