On the difficulty of evolutionary analysis
Article Abstract:
Thorstein Veblen asked why economics was not, in the late 19th century, an evolutionary science. This issue is still topical, and raises the question of difficulties in developing evolutionary sciences. Anthropology and institutional economics are two areas that can illustrate these difficulties. Anthropology became more focused on the present and the local, as the idea of social evolution receded. History and comparative studies are important for social scientists seeking to develop an evolutionary approach.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1998
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Reviving Veblenian economic philosophy
Article Abstract:
Thorstein Veblen criticized the notion of rational man in economic science. He moved away from a static view and proposed an alternative view of human nature which drew from the theory of evolution. Neoclassical economics has tended to suffer from problems which Veblen identified, such as an atomistic view of the economy. Many cognitive disciplines of the 1990s are supporting the key assumptions held by Veblen, a hundred years earlier, in their work in areas such as machine learning models.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1998
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Why is economics not an evolutionary science?
Article Abstract:
Economics deals with facts but this does not make it an evolutionary science. The Austrian school suffers from a faulty view of human nature, which sees humans in hedonistic terms as isolated datum. This hedonistic man reacts to external circumstances and does not function as a prime mover. An evolutionary science must seek to examine economic life processes, both of communities and of races. Theories of how human nature can develop cannot be based on a hedonistic view.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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