Genuine or Spurious Institutionalism?Veblen and Ayres Seen from a Neo‐Classical Perspective Raises the Question

Louis Junker

American Journal of Economics and Sociology, 1979, vol. 38, issue 2, 207-223

Abstract: Abstract. Orthodox critics of Institutional Economics, such as Professor David Seckler, are often confused—abysmally, in my personal opinion—about the basic socioeconomic and philosophical foundations of Institutionalism. In order to demonstrate the interpretive errors of Seckler's orthodox individualistic bias, which I regard as inanities, and his resultant perception of Institutionalist principles, which I think is farcical, an outline discussion of those key principles is presented under seven headings; 1) The Problem of Teleology; 2) Dualistic Philosophy; 3) The Concept of Culture; 4) The Nature of Institutions; 5) The Ceremonial‐Instrumental Dichotomy; 6) The Technological‐Scientific Process, and 7) The Value Problem.

Date: 1979
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