 Revisiting Polanyi’s Challenge: North and the Limits of the New InstitutionalismMatthijs Krul
Chapter 7 in The New Institutionalist Economic History of Douglass C. North, 2018, pp 221-243 from Palgrave Macmillan Abstract: Abstract The posthumous exchange of ideas between Karl Polanyi and Douglass North is at the heart of this discussion of North’s work. Where in previous chapters Krul has shown the effects that ‘Polanyi’s challenge’ had on the trajectory of North’s theoretical development, here Krul revisits Polanyi’s critique of economics to assess to what extent North successfully answered that challenge. The answer is negative. As Krul argues, while North’s work is often brilliant and extends New Institutionalist ideas to hitherto unforeseen new directions, it also keenly shows the limits of what New Institutionalism can accomplish. The flaws in North’s work are not contingent, but follow from New Institutional Economics’ core: its status as a theory ‘between’ neoclassical economics and the other social sciences. Keywords: Neoclassical economicsNeoclassical Economics; Presumed Universality; Karl PolanyiPolanyi; Varoufakis; Milonakis (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-319-94084-7_7 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-94084-7_7 Access Statistics for this chapter More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan |
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