Culture in Neoinstitutional Economics: An Integration of Myrdal and Galbraith into the Veblen‐Ayres Matrix

Richard L. Brinkman

American Journal of Economics and Sociology, 1981, vol. 40, issue 4, 401-413

Abstract: Abstract. Neoinstitutional economics, exemplified in this instance by the contributions of Gunnaar Myrdal and John K. Galbraith, exhibits a basic proclivity toward fragmentation. It is argued that a further advance of the Veblen‐Ayres general theory of economic development will serve as the foundation to reverse such centrifugal tendencies and provide a basis for integration and synthesis. The key conceptual framework for analysis and theory resides in culture and its evolution. The core of culture is transformed through the processes of economic development fed by the dynamics of technological change. In a modified Veblen‐ Ayres matrix, social institutions are assumed to be integral to the organic whole of technology. Given further modifications of mainstream institutional economics contained in the “dichotomy of useful knowledge” and the “wheel of economic development,” it is suggested that the cultural approaches of Myrdal and Galbraith might then be integrated into the culture‐analysis of economic evolution inherent in mainstream institutional economics

Date: 1981
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/j.1536-7150.1981.tb01657.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:40:y:1981:i:4:p:401-413

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0002-9246

Access Statistics for this article

American Journal of Economics and Sociology is currently edited by Laurence S. Moss

More articles in American Journal of Economics and Sociology from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().