<scp>S</scp>chumpeter, <scp>C</scp>ommons, and <scp>V</scp>eblen on Institutions

Papageorgiou, Theofanis; Katselidis, Ioannis; Michaelides, Panayotis G.

doi:10.1111/ajes.12042

Cited by 17 publications

(4 citation statements)

References 32 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…For Veblen new economic conditions lead to new ways of thinking and to new institutions through habituation. Habituation, being perhaps the "most important contribution" of Veblen in the field of social change, "occurs through the relentless incalculation of a habit of thought as man makes a living through a particular mode of production" and thus is "behavioristic in nature" (Dugger 1979, 428; see also Papageorgiou, Katselides, and Michaelides 2013;Papageorgiou and Michaelides 2016).…”

Section: Discussionmentioning

confidence: 99%

The Changing Geography of Debt and IMF's Involvement: From Global to European South

Papageorgiou¹,

Rousopoulos²,

Koskoletos³

2016

World Review of Political Economy

View full text Add to dashboard Cite

The risk reassessment process having taken place after the outburst of the crisis of 2008 highlights the role of the International Monetary Fund (IMF) as a last resort lender. In this article, we try to evaluate the fiscal and political presuppositions of the IMF's recent history toward crediting countries, focusing particularly in the case of Greece. We try to unravel the specific neoliberal dogma suppressing the Greek people, and the practices through which it succeeds in this direction, concluding that debt accumulation is acting rather as a disciplinary force than as a request for repayment. Furthermore, we focus on the issues that come up along with debt relief process, and the policy shifts in the IMF's history, arguing that different strategies of capital are unfolding: a moderate New Keynesianism based on the capitalist “utopia” of the unburdened state, and another offensive neoliberalism based on an antagonistic relationship between the creditor and the debtor with reference to “biopolitics.”

show abstract

Section: Discussionmentioning

confidence: 99%

The Changing Geography of Debt and IMF's Involvement: From Global to European South

Papageorgiou¹,

Rousopoulos²,

Koskoletos³

2016

World Review of Political Economy

View full text Add to dashboard Cite

show abstract

“…Peirce, James and Dewey) intellectual influences. In contrast to the mechanistic and static perception of classical and neoclassical economic tradition, institutional economists regarded the economic system as a dynamic and evolutionary process (Papageorgiou et al, 2013). Within such a system, the individual is considered a social being whose behaviour is affected by the force of habit and formed by the individual's interaction with the other members of the community.…”

Section: Origins and Methods Of The Old Institutional School Of Econo...mentioning

confidence: 99%

The Old Institutional School and Labour Market Functions and Policies*

Drakopoulos¹,

Katselidis²

2023

Economic Policy and the History of Economic Thought

View full text Add to dashboard Cite

The significant role of institutional and non-market factors in the functioning of an economic system was a core theme of the old institutional economists. They also criticised the narrow conception of economic welfare only in terms of efficiency and satisfaction of consumer interests. Instead, they focused on issues related to justice, human self-development and labourers' welfare. Their conception of the labour market functions is an indicative example of the uniqueness of their approach. In contrast to the standard approach, labour market functioning does not depend only on the price mechanism, but is also affected by other key factors and parameters such as the social norms, several psychological factors and various labour institutions. This chapter seeks to examine and highlight the contribution of the old institutional economics towards labour market functions and policies. After presenting the origins and method of the School, it briefly compares old Institutionalism and early Neoclassical economics focusing on labour market issues. It also discusses the old institutional approach with respect to the collective action and labour market policy. The chapter concludes with Ross-Dunlop debate on labour unions and the case of minimum wages policy in order to emphasize the relevance of early institutional ideas in analysing contemporary labour market issues.

show abstract

“…The performance of individual actors depends on the institutional and social contexts. Institutional change embodied in economic change takes place only when individuals overcome previously existing collective routines (Papageorgiou et al 2013(Papageorgiou et al , p. 1245.…”

Section: )mentioning

confidence: 99%

“…There is no doubt that Joseph Alois Schumpeter, Thorstein Veblen and Pierre Bourdieu are among the most influential academics that have merged classical political economy with sociology and are considered as pioneers of institutional and evolutionary thinking (Bögenhold 2007, a, b, c). Unfortunately, so far, some aspects of their works remain less widely discussed, or even unexplored, and as a result, possible linkages such as theoretical and methodological parallels between their works remain inadequately acknowledged, with the exception of a number of contributions, such as O'Donnell (1973), Zingler (1974), Cramer and Leathers (1977), Ferrarotti (1999), Gurkan (2005), Papageorgiou et al (2013), Valiati and Fonseca (2014) and Papageorgiou and Michaelides (2016).…”

Section: Introductionmentioning

confidence: 99%

Schumpeter, Veblen, and Bourdieu on Institutions and the Formation of Habits

Bögenhold

Michaelides

Papageorgiou

2021

Neglected Links in Economics and Society

Self Cite

View full text Add to dashboard Cite

As we know, Joseph Alois Schumpeter is one of the greatest economists of all times, while Thorstein Veblen is an economist and sociologist who made seminal contributions to the social sciences. Pierre Bourdieu, meanwhile, is one of the most famous structural sociologists, who has consistently worked on economic dynamics. These three scholars have laid the foundations of a socioeconomic perspective. However, several important aspects of their works remain less widely discussed, or even inadequately explored in a comparative manner. Of course, investigating the origins of their ideas in evolutionary and institutional economics and re-evaluating comparatively the influences that shaped their works is quite useful for promoting dialogue between Economics and Sociology. Within this framework, this essay focuses on the conceptual relationship between Schumpeter, Veblen and Bourdieu. Evolution and Change shape the economic life in their respective works and, in such a framework a central point of their analyses is the interdependence between the cultural, social and economic spheres. Furthermore, an economic sociology is built around the concept of habit formation. The three great authors' systemic views focus on the various institutions and other aspects of cultural, social and economic life, where habits are formed and cover diverse fields and notions such as Consumption, Preferences, Art, Knowledge, Banking and even Capitalism. For instance, all three social scientists acknowledged the fact that the internal dynamics of capitalism introduce structural instabilities into the economic system. Also, they recognized that research and knowledge development is a collective social process. However, from a methodological perspective, their main emphasis is on the emerging dynamic evolution of habits, which is perceived as the interruption of already existing social norms and the conflict between routine and change. Several differences between Schumpeter, Veblen and Bourdieu are observed and analysed and ideas for future research are presented.

show abstract

Schumpeter, Commons, and Veblen on Institutions

Cited by 17 publications

References 32 publications

The Changing Geography of Debt and IMF's Involvement: From Global to European South

The Changing Geography of Debt and IMF's Involvement: From Global to European South

The Old Institutional School and Labour Market Functions and Policies*

Schumpeter, Veblen, and Bourdieu on Institutions and the Formation of Habits

Contact Info

Product

Resources

About