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Schumpeter, Commons, and Veblen on Institutions

Bibliographic Data

ID2799254
AuthorsTheofanis Papageorgiou (0000-0002-8893-7628, National Technical University of Athens), Ioannis Katselidis (0000-0001-7418-0559, Athens University of Economics and Business), Panayotis G Michaelides (0000-0002-1243-7176, National Technical University of Athens)
Year2013
Volume72
Issue5
Pages1232-1254
Publication date2013-11-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueAmerican Journal of Economics and Sociology (JOURNAL)
Journal identifiersISSN: 0002-9246 • E-ISSN: 1536-7150
PublisherWiley (PUBLISHER • GB)
DOI10.1111/ajes.12042
OpenAlexW1560678567
LanguageEN
Citations received5
References cited30

This article compares Schumpeter, Veblen, and Commons with regard to institutions setting up the paradigm of institutional evolutionary economics. Their theories are of a complex nature, and as such, it is very difficult to situate them in a clear-cut tradition. The main similarity is their opposition to the thesis that market economy is an independent and self-regulating system, in an attempt to integrate economic, sociological, and political perspectives with regard to the functioning of the system. Also, change per se is in contrast to the notion of equilibrium. Of course, despite the parallels, the existence of differences is undeniable

Economics · Neoclassical economics · Operations management · Opposition (politics) · Parallels · Political science · Politics · Positive economics · Similarity (geometry) · Sociology · Computer Science · Economic theories and models · Economic Theory and Institutions · Law · Political Economy and Marxism

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Unique citing works5
Citations per year0,38
Citation span2013 - 2026 (14)
Citation velocitycurrent
Highly citedNo
Citation typesNeutral: 5

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