Lachmann and Veblen: Institutions versus Neoclassicism
In this study, an intellectual relationship endeavour is constituted between Lachmann and Veblen through the lens of institutions. Their mutual perspective lies in their efforts to understand economics through institutions, diverging from orthodox neoclassical economics. Simultaneously, the authors...
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| Format: | Article |
| Language: | English |
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Istanbul University Press
2025-02-01
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| Series: | İktisat Politikası Araştırmaları Dergisi |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/24653FF3EA0A4EE5AFBCDD0B2F874B65 |
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| author | Adem Levent |
| author_facet | Adem Levent |
| author_sort | Adem Levent |
| collection | DOAJ |
| description | In this study, an intellectual relationship endeavour is constituted between Lachmann and Veblen through the lens of institutions. Their mutual perspective lies in their efforts to understand economics through institutions, diverging from orthodox neoclassical economics. Simultaneously, the authors share a similarity in their ways of defining institutions. The foundations of institutions, as conceived by Lachmann in the plans within the human mind and the institutions expressing Veblen’s habits of thoughts and life, are closely aligned. This proximity established through institutions also provides an opportunity to address the enduring problem of the actor-structure dilemma in social theory. In other words, the article offers a different resolution to the ongoing debate between methodological individualism and methodological holism in social theory through the developed connection between Lachmann and Veblen. Furthermore, the hermeneutic approach, which has found limited traction in economics, persists firmly with Lachmann and Veblen. The hermeneutic approach, overt in Lachmann and more implicit in Veblen, presents another possibility for establishing an intellectual relationship between the two scholars. |
| format | Article |
| id | doaj-art-50c17ec0a51841d498aa9a6786f05c41 |
| institution | OA Journals |
| issn | 2148-3876 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | İktisat Politikası Araştırmaları Dergisi |
| spelling | doaj-art-50c17ec0a51841d498aa9a6786f05c412025-08-20T02:15:38ZengIstanbul University Pressİktisat Politikası Araştırmaları Dergisi2148-38762025-02-0112111212710.26650/JEPR1545178123456Lachmann and Veblen: Institutions versus NeoclassicismAdem Levent0https://orcid.org/0000-0002-1683-6107Bursa Uludağ Üniversitesi, Bursa, TürkiyeIn this study, an intellectual relationship endeavour is constituted between Lachmann and Veblen through the lens of institutions. Their mutual perspective lies in their efforts to understand economics through institutions, diverging from orthodox neoclassical economics. Simultaneously, the authors share a similarity in their ways of defining institutions. The foundations of institutions, as conceived by Lachmann in the plans within the human mind and the institutions expressing Veblen’s habits of thoughts and life, are closely aligned. This proximity established through institutions also provides an opportunity to address the enduring problem of the actor-structure dilemma in social theory. In other words, the article offers a different resolution to the ongoing debate between methodological individualism and methodological holism in social theory through the developed connection between Lachmann and Veblen. Furthermore, the hermeneutic approach, which has found limited traction in economics, persists firmly with Lachmann and Veblen. The hermeneutic approach, overt in Lachmann and more implicit in Veblen, presents another possibility for establishing an intellectual relationship between the two scholars.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/24653FF3EA0A4EE5AFBCDD0B2F874B65lachmannvebleninstitutionsneoclassicismplansprocess |
| spellingShingle | Adem Levent Lachmann and Veblen: Institutions versus Neoclassicism İktisat Politikası Araştırmaları Dergisi lachmann veblen institutions neoclassicism plans process |
| title | Lachmann and Veblen: Institutions versus Neoclassicism |
| title_full | Lachmann and Veblen: Institutions versus Neoclassicism |
| title_fullStr | Lachmann and Veblen: Institutions versus Neoclassicism |
| title_full_unstemmed | Lachmann and Veblen: Institutions versus Neoclassicism |
| title_short | Lachmann and Veblen: Institutions versus Neoclassicism |
| title_sort | lachmann and veblen institutions versus neoclassicism |
| topic | lachmann veblen institutions neoclassicism plans process |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/24653FF3EA0A4EE5AFBCDD0B2F874B65 |
| work_keys_str_mv | AT ademlevent lachmannandvebleninstitutionsversusneoclassicism |