American legal realism is commonly treated as a theory-pariah. The article exposes certain reasons explaining such a treatment. Generally, it seems that such an attitude is a result of many misunderstandings of realist aims and ambitions, some of which pertain to the theoretical status of legal realism and its relation to so called general jurisprudential theories, such as legal positivism. In the first part of the article I explain generally what these aims were and how one should see these relations. (...) In the second part I briefly analyze B. Leiter’s famous claim that legal realism is conceptually dependent on hard legal positivism (as a general theory of law). The critique of this claim opens the possibility for some alternative understanding of legal realism. (shrink)

This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.

Save for Anthropologists, few social scientists have been among the participants in the discussions about the appropriate structure of a ‘Universal Darwinism’. Yet evolutionary theorizing about cultural, social, and economic phenomena has a long tradition, going back well before Darwin. And over the past quarter century significant literatures have grown up concerned with the processes of change operating on science, technology, business organization and practice, and economic change more broadly, that are explicitly evolutionary in theoretical orientation. In each of these (...) fields of study, the broad proposition put forth by Darwin that change proceeds through a process involving variation, systematic selection, renewed variation... has proved both persuasive and powerful. On the other hand, the evolutionary processes involved in these areas differ in essential ways from those we now know are operative in the evolution of biological species. The objective of this essay is to highlight those differences, which a ‘Universal Darwinism’ needs to encompass, if it is to be broad enough to be a theory that is applicable to the evolution of human cultures as well as evolution in biology. (shrink)

Theories of rational decision making often abstract away from computational and other resource limitations faced by real agents. An alternative approach known as resource rationality puts such matters front and center, grounding choice and decision in the rational use of finite resources. Anticipated by earlier work in economics and in computer science, this approach has recently seen rapid development and application in the cognitive sciences. Here, the theory of rationality plays a dual role, both as a framework for normative assessment (...) and as a source of scientific hypotheses about how mental processes in fact work. The latter project, often called rational analysis, depends for its success on a fine-grained characterization of the computational problem facing a decision maker, which may in turn depend on realistic assumptions about what the relevant agent is like. As a consequence, resource rationality involves a delicate, but often fruitful interplay between the normative and the descriptive. (shrink)

Generalisation, universal knowledge claims, and recommendations within disaster studies are problematic because they lead to miscommunication and the misapplication of actionable knowledge. The consequences and impacts thereof are not often considered by experts; forgone as irrelevant to the academic division of labour. There is a disconnect between expert assertions for disaster risk reduction (DRR) and their practical suitability for laypersons. Experts currently assert independently of the context within which protective action measures (PAMs) are to be used, measures unconnected to the (...) people for whom they are developed. This has knock-on effects for DRR: much expert-generated science and policy remains unused, unimplemented, and sometimes misapplied. I use philosophical accounts of assertion and epistemic blame to highlight the epistemic relationship between experts and laypersons. This relationship includes responsibilities and agreements between epistemic agents. Since multilevel DRR knowledge still transfers top-down from experts to laypersons, if experts impair the epistemic relationship, they can be held epistemically blameworthy. To address the pervasiveness of top-down systems, I analyse the epistemic framings and narratives currently shaping DRR, and more specifically PAMs and campaigns. I deconstruct universal perspectives that dominate the epistemic processes of generating, disseminating, and implementing DRR knowledge and specifically for co-seismic landslide PAMs for Nepal. I argue for more inclusive, contextual, and epistemically responsible DRR. Co-production of knowledge should begin from the standpoints of marginalised persons who may have an epistemic advantage due to their socio-politically marginalised positions. Often these epistemic contributions are left out of DRR efforts because marginalised persons are rarely afforded equal, if any, epistemic agency, which results in epistemic gaps and a large pool of relevant knowledge remaining unincorporated and unused in DRR research and policy. (shrink)

The Darwinian theory of evolution is itself evolving and this book presents the details of the core of modern Darwinism and its latest developmental directions. The authors present current scientific work addressing theoretical problems and challenges in four sections, beginning with the concepts of evolution theory, its processes of variation, heredity, selection, adaptation and function, and its patterns of character, species, descent and life. The second part of this book scrutinizes Darwinism in the philosophy of science and its usefulness in (...) understanding ecosystems, whilst the third section deals with its application in disciplines beyond the biological sciences, including evolutionary psychology and evolutionary economics, Darwinian morality and phylolinguistics. The final section addresses anti-Darwinism, the creationist view and issues around teaching evolution in secondary schools. The reader learns how current experimental biology is opening important perspectives on the sources of variation, and thus of the very power of natural selection. This work examines numerous examples of the extension of the principle of natural selection and provides the opportunity to critically reflect on a rich theory, on the methodological rigour that presides in its extensions and exportations, and on the necessity to measure its advantages and also its limits. Scholars interested in modern Darwinism and scientific research, its concepts, research programs and controversies will find this book an excellent read, and those considering how Darwinism might evolve, how it can apply to the human sciences and other disciplines beyond its origins will find it particularly valuable. Originally produced in French (Les Mondes Darwiniens), the scope and usefulness of the book have led to the production of this English text, to reach a wider audience. This book is a milestone in the impressive penetration by Francophone scholars into the world of Darwinian science, its historiography and philosophy over the last two decades. Alex Rosenberg, R. Taylor Cole Professor of Philosophy, Duke University Until now this useful and comprehensive handbook has only been available to francophones. Thanks to this invaluable new translation, this collection of insightful and original essays can reach the global audience it deserves. Tim Lewens, University of Cambridge. (shrink)

The goal of forming a science of intentional behavior requires a more richly detailed account of symbolic systems than is assumed by the authors. Cultural systems are not simply the equivalent in the ideational domain of culture of the purported Baldwin Effect in the genetic domain. © 2014 Cambridge University Press.

Organisms change their shape and behavior during ontogenesis in response to incentives—what biologists call “phenotypic plasticity” or what is called here more specifically “behavioral plasticity.” Such plasticity is usually in the direction of enhancing welfare or fitness. In light of basic concepts in economics, such behavioral plasticity is nothing but rationality. Such rationality is not limited to organisms with neural systems. It also characterizes brainless organisms such as plants, fungi, and unicellular organisms. The gist of the article is the distinction (...) between rationality and intelligence. Whereas rationality is ubiquitous in all organisms, intelligence varies in degrees depending on division of labor that may involve the evolution of a neural system. This article aims to defend the universality of rationality—the Organismus oeconomicus hypothesis. It argues that neither the notion of bounded rationality of behavioral economics nor Herbert Simon’s “procedural rationality” can ultimately undermine the Organismus oeconomicus hypothesis. (shrink)

Two main schemes explain how a system adapts to its environment. Evolutionary models are grounded on three usual processes (variation, transmission, selection) acting at the population level. Learning models are concerned with the endogenous search for a better performance at the individual level. The first ones were initially favored by biology and the second well illustrated by game theory. The article examines first how game theory went to evolution and how biology later considered learning. It shows some examples of a (...) hybrid use of models of each type. It finally proposes a common framework for both types of models. (shrink)

A clear understanding of the concept and consequences of diversity in science and technology is a key issue for Europe, when considering the current debate on cohesion Put forward within the Single European Act. According to Article 130B of the Single Act, all European policies, including technological policies must contribute to the achievement of a greater cohesion throughout the EC.

Aristotle warned against a 'missing middle' in logic (Gk Mesos – middle; intermediate). This paper submits that one of the reasons why there has been no major breakthrough in macroeconomics since the financial crisis of 2007-08 has been a missing middle in mainstream micro-macro syntheses, constrained by partial and general equilibrium premises. It maintains that transcending this needs recognition that large and dominant multinational corporations between small micro firms and macro outcomes – while also influencing both – merit the conceptual (...) paradigm of mesoeconomics. Drawing on a range of uses of the concept, it relates this to reasons for 'too big to fail' and suggests implications for policies to gain accountability of big business, including how a meso dimension to input-output could yield transparency on risk-prone financial transactions by banks, and of corporations contributing to climate change. It also critiques misrepresentation of Walras and Pareto, as well as suggesting areas for research which could address, and potentially redress, 'missing middles' in mainstream micro-macro syntheses. (shrink)

Biologists and economists use models to study complex systems. This similarity between these disciplines has led to an interesting development: the borrowing of various components of model-based theorizing between the two domains. A major recent example of this strategy is economists’ utilization of the resources of evolutionary biology in order to construct models of economic systems. This general strategy has come to be called evolutionary economics and has been a source of much debate among economists. Although philosophers have developed literatures (...) on the nature of models and modeling, the unique issues surrounding this kind of interdisciplinary model building have yet to be independently investigated. In this paper, we utilize evolutionary economics as a case study in the investigation of more general issues concerning interdisciplinary modeling. We begin by critiquing the distinctions currently used within the evolutionary economics literature and propose an alternative carving of the conceptual terrain. We then argue that the three types of evolutionary economics we distinguish capture distinctions that will be important whenever resources of model-based theorizing are borrowed across distinct scientific domains. Our analysis of these model-building strategies identifies several of the unique methodological and philosophical issues that confront interdisciplinary modeling. (shrink)

The integration of learning cognitive agents in the research agenda is an important step in the evolution of economics. However, relying on a retrospective analysis of the treatment of decision making in economics, this article argues that the cognitive programme aims to justify rational behaviour in an equilibrium framework rather than to integration an interpretative conception of agents' behaviour. As a consequence, the level of generality of analytical results remains limited and economists miss the opportunity to establish a discussion with (...) other social sciences. In particular, it fails to analyse a class of situations related to the problem of knowledge creation and the subsequent learning paradox. Building on recent advances in heterodox cognitive science, we suggest a behavioural approach that discriminates different learning situations. If applied, this approach would permit a better understanding of human behaviour and a richer analysis of coordination mechanisms in unfamiliar environment with no loss of rigour. (shrink)

This paper traces missing links in the history of economic thought. In outlining Hume's concept of 'the reflexive mind' it shows that this opened frontiers between philosophy and psychology which Bertrand Russell denied and which logical positivism in philosophy and positive economics displaced. It relates this to Hume's influence not only on Smith, but also on Schopenhauer and the later Wittgenstein, with parallels in Gestalt psychology and recent findings from neural research and cognitive psychology. It critiques Kant's reaction to Hume's (...) claim that one may assume but cannot prove cause and effect and how Samuelson's Foundations of Economic Analysis has been Kantian but wrong in claims for axioms that are universal truths. It illustrates how Samuelson's presumption that language and mathematics are 'identical' was as mistaken as the logical atomism of Russell and the early Wittgenstein, relates this to Kleinian splitting, denial and projective identification and suggests that recovery of greater realism in economics needs to regain links with such philosophy and psychology. (shrink)

Neuroeconomics has the potential to fundamentally change the way economics is done. This article identifies the ways in which this will occur, pitfalls of this approach, and areas where progress has already been made. The value of neuroeconomics studies for social policy lies in the quality, replicability, and relevance of the research produced. While most economists will not contribute to the neuroeconomics literature, we contend that most economists should be reading these studies.

The heterodox economic agent is a creature best addressed from a pragmatist perspective. We show how the American Institutional Economics concept of agent offers an essential perspective when evaluating political economic concerns of today. Closely linked to pragmatist literature, American Institutionalism adds a contextual richness to agency theory that is absent from conventional economics. The agent of American Institutionalism, and heterodox economics in general, is a pragmatic creature, operating in real time, constantly trying to solve problems and adapt to ever (...) changing reality. This guides political economic thought toward an evolutionary view and provides an important perspective on the democratic process. (shrink)

(First paragraph.) Different views on the relation between phenomenal reality, the world as we consciously experience it, and noumenal reality, the world as it is independent from an experiencing subject, have different implications for a collection of interrelated issues of meaning and reality including aspects of metaphysics, the philosophy of language, and philosophical methodology. Exploring some of these implications, this paper compares and brings together analytic, continental, and Buddhist approaches, focusing on relevant aspects of the philosophy of Donald Davidson, Jacques (...) Derrida, Dharmakīrti, and Dōgen. Prima facie, these philosophers have little in common, and indeed the differences are vast. Even in case of the two Western thinkers there is a fundamental difference between Davidson’s anti-dualist identification of phenomenal, experienced reality with the noumenal, real, external world on the one hand, and the bracketing or elimination of noumenal reality at the base of Derrida’s thought on the other, which lead to radically different ideas with regards to (the possibility and nature of) objectivity and our linguistic access to the real/external/noumenal world. Nevertheless, there are important similarities between Dharmakīrti’s theory of apoha and Davidson’s and Derrida’s theories of triangulation and différance respectively, and these similarities can be exploited to bridge some of the differences and attempt a constructive engagement. (shrink)

My starting point in this paper is the artistic structures of the Renaissance. Resorting to what I call an epistemology of blindness, I set out to identify the limits of representation in modern science. This epistemology applies to different sciences in different degrees. I argue that the degree is particularly high in the case of mainstream economics. At the end of the paper I indicate some possible ways of advancing from an epistemology of blindness toward an epistemology of seeing.

Resumen En el presente trabajo nos acercaremos a las reflexiones aristotélicas sobre lo económico, desde la perspectiva de Karl Polanyi, precisamente porque éste acude al filósofo griego con el ánimo de obtener elementos útiles para construir una profunda crítica de la moderna sociedad de mercado. Aristóteles intuyó el futuro incierto de un orden social devorado por relaciones económicas en hipertrófica expansión. En su época, desde luego, tal amenaza sólo era potencial y jamás vio la culminación efectiva de nada semejante. No (...) obstante, a pesar de ello, fue capaz de visualizar el significado último de lo que estaba en juego, además pudo comprender que un crecimiento desmedido y descontrolado de las relaciones mercantiles acabaría trastocando irremediablemente el equilibrio cívico; entendió que la extensión irrestricta del deseo de ganancia a todos los lazos humanos supondría una potente amenaza contra la médula misma de la comunidad política.This study approaches Aristotelian reflections on economy through the eyes of Karl Polanyi, as he resorts to the Greek philosopher to find useful elements when building a profound criticism of the modern market society. Aristotle intuited the uncertain future of a social order devoured by economic relations expanding at a hypertrophic rate. In his time, indeed, this was only a potential threat -he never saw the effective culmination of anything like what we are seeing today-. But he was nevertheless able to see the ultimate meaning of what was at stake, and to understand that the unmeasured, uncontrolled growth of market relations would irremediably affect the civic balance. He understood that the unrestricted extension of the desire for profit to all human ties would be a powerful threat to the heart of the political community. (shrink)

The alliance of pure market economies with democratic polities has traditionally been a problematic one. It is argued that orthodox theoretical conceptualizations of market behaviour and the application of such theory to our communal lives have entrenched an incoherent alliance. In particular, the reductive mechanism characteristic of both neo-classical economic theory and its deployment in our socio-economic order has severely undermined the telic agency required for the autonomy or self-rule definitive of an authentic democratic order. Such reduction is observed to (...) function through the disabling of the cognitive capacity of consumers and by disempowering the agency of workers such that coercion is misconceived as freely agreed contract. (shrink)

This article pursues the question whether and inasmuch theories of corporate responsibility are dependent on conceptions of managerial freedom. I argue that neglect of the idea of freedom in economic theory has led to an inadequate conceptualization of the ethical responsibilities of corporations within management theory. In a critical review of the history of economic ideas, I investigate why and how the idea of freedom was gradually removed from the canon of economics. This reconstruction aims at a deconstruction of certain (...) axioms of neoclassical economics that hamper contemporary efforts in integrating ethics firmly into management education. I intend to show by these deconstructive endeavors that a constructive use of the idea of responsible freedom could correct and complement the current quantitative focus in business theory through qualitative orientations. I argue that with the help of qualitative success criteria, the strategic integration of the tenets of both business ethics and Corporate Social Responsibility into business practice can be advanced by further research. (shrink)

Economic sociologists have developed and applied theories and concepts in close connection with broadly economic phenomena, including, recently, embeddedness and actor network theory. Key to these theories is understandings of action given uncertainty in which actors develop calculative capabilities, and an emphasis on markets with boundaries and interstices as essential properties. This article reflects upon the connections between Parsons' and Smelser's economic sociology and that of contemporary authors including Granovetter, Callon and White. As a strange other to economics and to (...) sociology, economic sociology can develop research questions in considering arbitrage generally, rather than only restricted to financial markets. (shrink)

Because of the intellectual attraction of the neo-Darwinian theory of evolution, its conccpts are often borrowed to conceptualized evolutionary change also in non-biological domains. However, a heuristic strategy like that is problematic. An attempt is therefore made to identify generic features of evolution which transcend domain-specific characteristics. Epistemological, conccptual, and methodological implications are discussed, and the ontological question is raised how non-biological evolutionary theories can be accommodated within the Darwinian world view of modern sciences.

Historiography has never been considered as a source of Veblen's thought. This essay draws on previously unknown archival evidence regarding Veblen's experience at Cornell, where he asked to be enrolled as a Ph.D. student in ‘History and Political Science’ in 1891, to shed light on his relationship with both British and American institutional historiography. It is argued that Veblen's studies at this university, under the influence of local historians, is crucial to understanding his later work, particularly his theory of the (...) leisure class, for two fundamental reasons: (1) Cornell was unique for its tendency to combine the study of history with that of politics and society at a time when historiography tended to emancipate itself from the social sciences; (2) Cornell was one of the main epicentres for the diffusion of British historiography in America. Veblen's theory of the leisure class, to which he devoted his first article at Cornell, is thus presented as the fruit of his effort to reassess the historiographical idea of evolution, against its applications by philosophers, by insisting on the importance of path-dependent mentalities and by differentiating the evolutionary pattern followed by political and social institutions, on the one hand, from economic institutions on the other. (shrink)

In the mid-nineteenth century, Karl Marx issued several critiques of political economy writings stressing the exclusive duality of states and the national economies. He argued that capitalism had characteristic features quite apart from those shaped by the idiosyncrasies of national economies. In the first part of this article, we critique the contemporary state-centered explanations for the industrialization of East Asia on same grounds. We claim that most political economists misinterpret or entirely ignore the significance of export-led industrialization, which is a (...) characteristic feature of East Asian capitalism. In the second part of the article, we demonstrate the importance of the retail revolution in the US and Europe on Asian industrialization. In particular, we show that the development of the sequential ordering system that is an inherent feature of Western-based contract manufacturing differentially shaped the industrial organization of East Asian economies. The resulting path-dependent trajectories of development, in turn, encouraged government policy-makers to ‘buy into’ trends of global capitalism in different ways. The trajectories also led business people to privilege and adapt some social institutions and cultural patterns over other ones. (shrink)

It is time to transcend the arid debate between rationality and ir-, a-, or non-rationality as our basic assumption about human agency.1 There are powerful arguments and extensive evidence both for and against the rationality assumption, with heavily defended entrenchments on both sides. Managers and management scholars continually make at least tacit assumptions about how they expect others to behave. If only we could have in both theory and practice the coherence and precision of rational models as well as the (...) descriptive richness of ‘behavioural’ approaches. The message of this paper is that perhaps we can. The advent of consciousness studies and, more recently, neuroeconomics would seem to indicate the way forward to transcend the opposition in some kind of synthesis. This paper investigates rationality in the light of Daniel Dennett’s thesis that it is at the core of all intentionality that is the defining characteristic of mental phenomena. Neuroeconomics seeks to enhance understanding of agency by investigating new insights on the materialist basis of mental phenomenology in the neurophysiology of the brain and nervous system. Experimental evidence mapping intentional states onto neurophysiological states is emerging, some researchers even claiming to have found a ‘neurophysiological utility function’. Dennett closes the circuit by locating the existence of brain-hardware supporting satisficing intentional choice and action as the output of evolutionary ‘design’. The dichotomy is transcended: satisficing models (of which normative optimising rational choice models are a reasonable abstraction) are a good basis both for statistical prediction of the behaviour of large numbers, and as the first base on which to construct and refine a model of expectation-formation about particular types of agent and then of individual agents. Using both the old (‘external’) and the new (sub-individual) behaviourism as well as work on unpacking the abstract notion of rationality, we can concretise optimising rational choice both generally, for epistemic theory-building purposes, and specifically for understanding and deploying models of managerial agency. Such models will need to incorporate emotion with cognition in an integrated approach. (shrink)

In the past half century, the theory of the firm has become a specific and prolific research field. However, the social ontology of this central institution of capitalism has never truly been the subject of investigation. I consider this negligence harmful for organizational economics and management and, more broadly, for the social sciences, notably because the first and central question raised by the theory of the firm relates to its nature: What is a firm? For this reason, I propose some (...) novel considerations for a social ontology of the firm by focusing on social emergence, reconstitution, the two-level institutional logic of the firm, complex organizational dynamics and interacting mechanisms, and power. (shrink)

This article pursues the question whether and inasmuch theories of corporate responsibility are dependent on conceptions of managerial freedom. I argue that neglect of the idea of freedom in economic theory has led to an inadequate conceptualization of the ethical responsibilities of corporations within management theory. In a critical review of the history of economic ideas, I investigate why and how the idea of freedom was gradually removed from the canon of economics. This reconstruction aims at a deconstruction of certain (...) axioms of neoclassical economics that hamper contemporary efforts in integrating ethics firmly into management education. I intend to show by these deconstructive endeavors that a constructive use of the idea of responsible freedom could correct and complement the current quantitative focus in business theory through qualitative orientations. I argue that with the help of qualitative success criteria, the strategic integration of the tenets of both business ethics and Corporate Social Responsibility into business practice can be advanced by further research. (shrink)

Read Arturo Hermann's paper, 'The Decline of the "Original Institutional Economics" in the Post-World War II Period and the Perspectives of Today'...

it is a pleasant task to reflect on these thoughtful comments on my Coss lecture. Their gracious reception of an economist into the world of philosophy is an added bonus.Let me leave to one side—for the moment—the main title of my paper, and focus on the subtitle: “the collective construction of rules to live by.” Here, we find my core interest in both economics and philosophy. Beginning around the middle of the twentieth century, economists claimed to have the necessary tools (...) for deriving the optimal rules to live by. Once that claim was taken seriously by the profession, it became accepted practice for economists to become advocates for those decision rules. More correctly, economists became advocates for a.. (shrink)

Original, or 'old', institutional economics (OIE) – also known as 'institutionalism' – played a key role in its early stages; it could be said that it was once the 'mainstream economics' of the time. This period ran approximately from the first important contributions of Thorstein Veblen in 1898 to the implementation of the New Deal in the early 1930s, where many institutionalists played a significant role. However, notwithstanding its promising scientific and institutional affirmation, institutional economics underwent a period of marked (...) decline that spanned from the mid-1930s to the late 1980s, when a new season for institutional economics was set in motion. In order to cast some light on this complex issue – without any claim of completeness – we have organised the work as follows: in the first section we consider the main interpretations of this phenomenon. In the subsequent sections we analyse a number of 'endogenous' aspects which might have played a significant role in the period of decline: (i) the relations of institutional economics with Keynes's macroeconomic theory; (ii) the links between theoretical and empirical analysis and the supposed lack of a clear theory; (iii) the interdisciplinary orientation. (shrink)

Reydon and Scholz raise doubts about the Darwinian status of organizational ecology by arguing that Darwinian principles are not applicable to organizational populations. Although their critique of organizational ecology’s typological essentialism is correct, they go on to reject the Darwinian status of organizational populations. This paper claims that the replicator-interactor distinction raised in modern philosophy of biology but overlooked for discussion by Reydon and Scholz provides a way forward. It is possible to conceptualize evolving Darwinian populations providing that the inheritance (...) mechanism is appropriately specified. By this approach, adaptation and selection are no longer dichotomized, and the evolutionary significance of knowledge transmission is highlighted. (shrink)

Examines the political significance of ideas about happiness through the work of utilitarian philosophers William Thompson and Jeremy Bentham. Happiness is political. The way we think about happiness affects what we do, how we relate to other people and the world around us, our moral principles, and even our ideas about how society should be organized. Utilitarianism, a political theory based on hedonistic and individualistic ideas of happiness, has been dominated for more than two-hundred years by its founder, Jeremy Bentham. (...) In Happiness, Democracy, and the Cooperative Movement, Mark J. Kaswan examines the work of William Thompson, a friend of Bentham’s who nonetheless offers a very different utilitarian philosophy and political theory based on a different conception of happiness, but whose work has been largely overlooked. Kaswan reveals the importance of our ideas about happiness for our understanding of the basic principles and nature of democracy, its role in society and its character as a social institution. In what is the closest examination of Thompson’s political theory to date, Kaswan moves from philosophy to theory to practice, starting with conceptions of happiness before moving to theories of utility, then to democratic theory, and finally to practice in the first detailed account of how Thompson’s ideas laid the foundations for the cooperative movement, which is now the world’s largest democratic social movement. Mark J. Kaswan is Assistant Professor of Government at the University of Texas at Brownsville and J. Robert Beyster and Michael W. Huber Fellow, Rutgers University School of Management and Labor Relations. (shrink)

As an economist, I was raised on the milk of prescriptive consequentialism. The theoretical architecture of rational choice, welfare economics, and its applied version—benefit-cost analysis—was offered up as the definitive answer to a wide range of public policy problems. Welfare economics was alleged to offer value-free solutions to value-laden policy debates. Symbolic of this confidence is the claim by Milton Friedman:[C]urrently in the Western world, and especially in the United States, differences about economic policy among disinterested citizens derive predominantly from (...) different predictions about the economic consequences of taking action—differences that in principle can be eliminated by the progress of.. (shrink)

Cet article associe trois approches issues de l’institutionnalisme historique : l’école historique allemande, l’institutionnalisme américain originel et la théorie de la régulation. Il en dégage les principes méthodologiques partagés et analyse leur application au processus d’élaboration théorique. Codes JEL : B15, B25, B40, B52, E02, Z13.