Economics, Econometrics and Finance
8 years ago

Evolutionary institutionalism reshaping economics with Darwinian principles.

Routledge eBooks
The evolution of institutional economics : agency, structure and Darwinism in American institutionalism
Geoffrey M. Hodgson

Paper Summary

The article explores the evolution of institutional economics, focusing on the influence of Charles Darwin and Thorstein Veblen. It discusses how Veblen's ideas shaped institutional economics and the contributions of key figures like John R. Commons, Wesley Mitchell, Frank Knight, and Clarence Ayres. The research suggests a potential revival of Veblenian institutionalism and outlines a research agenda for institutional economic theory.

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