Catholic Social Thought and New Institutional Economics: An Assessment of Their Affinities and Areas of Potential Convergence

Eileen Norcross () and Paul Dragos Aligica

American Journal of Economics and Sociology, 2020, vol. 79, issue 4, 1241-1269

Abstract: The potential link between Catholic social teaching (CST) and the theoretical developments associated with new institutional economics (NIE) are explored. The emphasis is on the contributions of two Nobel Prize winners in economics—Douglass C. North and Elinor Ostrom—and on the work of political scientist Vincent Ostrom. By adjusting the neoclassical presumptions dominating modern economic theory to include culture, ideas, and religious beliefs in the analysis of economic behavior, the economic and social theorizing developed by these scholars advances a framework that has significant affinities with CST’s foundational critique of economic concepts and theories and with its normative position regarding the nature and functioning of social and economic systems.

Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/ajes.12352

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:79:y:2020:i:4:p:1241-1269

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 ().