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Genuine or Spurious Institutionalism? Veblen and Ayres Seen from a Neo‐Classical Perspective Raises the Question
Author(s) -
Junker Louis
Publication year - 1979
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1979.tb02884.x
Subject(s) - institutionalism , veblen good , teleology , individualism , epistemology , perspective (graphical) , sociology , institutional economics , value (mathematics) , positive economics , philosophy of science , social science , neoclassical economics , philosophy , law , political science , economics , politics , artificial intelligence , machine learning , computer science
A bstract . Orthodox critics of Institutional Economics , such as Professor David Seckler , are often confused—abysmally, in my personal opinion—about the basic socioeconomic and philosophical foundations of Institutionalism. In order to demonstrate the interpretive errors of Seckler's orthodox individualistic bias, which I regard as inanities, and his resultant perception of Institutionalist principles, which I think is farcical, an outline discussion of those key principles is presented under seven headings; 1) The Problem of Teleology; 2) Dualistic Philosophy; 3) The Concept of Culture; 4) The Nature of Institutions; 5) The Ceremonial‐Instrumental Dichotomy; 6) The Technological‐Scientific Process, and 7) The Value Problem.