Paradigmatic features of the alternative strategies development for institutional economicsstudies

V. V. Biryukov
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V. V. Biryukov: Omsk Humanitarian Academy, Omsk, Russian Federation

Russian Journal of Social Sciences and Humanities, 2022, vol. 16, issue 4, 188-196

Abstract: The article deals with the issues related to the changes taking place in modern economic thought caused by the search for new approaches to the analysis of institutional economics. The purpose of the article is to substantiate the paradigmatic features of the development of alternative strategies for institutional research. The methodology of the research is determined by the inconsistency of the traditional paradigm of developing alternative research strategies for institutional mechanisms of economic development and the need to use constructivist logic and ideas of the classical paradigm. The paper shows that modern strategies for studying economics as a complex system have emerged as a result of the formation of a dualistic version of the neoclassical paradigm, which causes a research deadlock due to the use as a “hard core” (often by default) utilitarian interpretation of the motives of behavior of economic subjects and social phenomena as exogenous variables, which generates the development of a variety of eclectic by the nature of institutional theories. At the same time, in a value-neutral strategy, the decisive role in describing economic processes belongs to institutions, and in a value-oriented strategy, this role is played by value-normative motives of the behavior of subjects. The author comes to the conclusion that the change of the paradigmatic framework of traditional strategies of institutional analysis presupposes the construction of a vision adequate to the increasingly complex picture of modern economic reality based on the use of constructivism logic and the ideas of classical political economy, which contributes to the use of a research strategy with great cognitive potential.

Keywords: economic methodology; constructivism; institutionalism; economic institutions; institutional economics (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aws:omskjl:v:16:y:2022:i:4:p:188-196

DOI: 10.17238/issn1998-5320.2022.16.4.21

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