Keywords
Thorstein Veblen
Institutional economics
Original institutional economics
Old institutional economics
Cactus branch
Radical institutionalism.
Institutional economics
Original institutional economics
Old institutional economics
Cactus branch
Radical institutionalism.
How to Cite
BÖCK, Ricardo; ALMEIDA, Felipe. Clarence Ayres, ayresians and an evolution of veblenian institutionalism. Economia e Sociedade, Campinas, SP, v. 27, n. 2, p. 381–407, 2018. Disponível em: https://periodicos.sbu.unicamp.br/ojs/index.php/ecos/article/view/8656767. Acesso em: 17 jul. 2024.
Abstract
This paper analyzes the evolution of Thorstein Veblen’s institutionalism by Clarence Ayres and the Cactus Branch. Veblen is a founding father of the Original Institutional Economics. Despite Veblen’s contribution to institutional economics, his academic career was confusing. No university can be considered Veblen’s “alma matter” and he did not tutor any PhD students. Hence, Veblenians had little or no contact with Veblen. Clarence Ayres is most definitely one of the most important Veblenians. Different from Veblen, Ayres made the University of Texas, at Austin, his academic home. He instructed several students on the Veblenian economics tradition. The Ayresian group of institucionalists became known as the Cactus Branch. However, Ayres held a particular perspective of Veblen’s writings; Ayresian institutionalism focused on the instrumental-ceremonial dichotomy. The 1980s witnessed a rediscovery of Veblenian institucionalism. Institutionalists from the Cactus Branch introduced readings of Ayresian institutionalism closer to the Veblenian perspective. A segment of the Cactus Branch self-identified as Radical Institutionalists recovered Veblen’s social criticism in their studies.
References
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AYRES, C. The epistemological significance of social psychology. The Journal of Philosophy, Psychology and Scientific Methods, v. 15, n. 2, p. 35-44, 1918a.
AYRES, C. The function and problems of economic theory. Journal of Political Economy, v. 26, n. 1, p. 69-90, 1918b. AYRES, C. Instinct and capacity I: the instinct of belief-in-instinct. The Journal of Philosophy, v. 18, n. 21, p. 561-565, 1921a.
AYRES, C. Instinct and capacity II: homo domesticus. The Journal of Philosophy, v. 18, n. 22, p. 600-606, 1921b.
AYRES, C. Moral confusion in economics. International Journal of Ethics, v. 45, n. 2, p. 170-199, 1935.
AYRES, C. Economic value and scientific synthesis. The American Journal of Economics and Sociology, v. 1, n. 4, p. 343-360, 1942.
AYRES, C. The theory of economic progress. The University of North Carolina Press. 1944.
AYRES, C. The co-ordinates of institutionalism. The American Economic Review. Papers and Proceedings of the Sixty-third Annual Meeting of the American Economic Association, v. 41, n. 2, p. 47-55, 1951.
AYRES, C. Toward a reasonable society: the values of industrial civilization. Austin University of Texas Press. 1961.
BUSH, P. D. An exploration of the structural characteristics of a Veblen-AyresFoster defined institutional domain. Journal of Economic Issues, v. 17, n. 1, p. 3562, 1983.
BUSH, P. The theory of institutional change. Journal of Economic Issues, v. 21, n. 3, p. 1075-1116, 1987.
BUSH, P. Reflections on the twenty-fifth anniversary of AFEE: philosophical and methodological issues in institutional economics. Journal of Economic Issues, v. 25, n. 2, p. 321-346, 1991.
BREIT, W.; CULBERTSON JR. Clarence Edwin Ayres: an intellectual’s portrait. In: BREIT, W.; CULBERTSON JR. Science and ceremony: the institutional economics of C. E. Ayres. University of Texas Press, Austin e London, 1976.
CAVALIERI, M. Thorstein Veblen entre seus pares economistas: um estudo sobre a audiência e a estrutura argumentativa de sua crítica sistemática ao pensamento econômico. Nova Economia, v. 25, p. 389-412, 2015.
CAVALIERI, M.; ALMEIDA, F. Institutionalists as dissenters: why were institutionalists so dissatisfied with economics during the post-war period. Journal of Economic Issues, v. 49, n. 2, p. 475-482, 2015.
COATES, A. W. Clarence Ayres’s place in the history of American economics: an interim assessment. In: BREIT, W.; CULBERTSON JR. Science and ceremony: the institutional economics of C. E. Ayres. Austin; London: University of Texas Press, 1976.
DAVIS, J. Samuels on methodological pluralism in economics. Disponível na SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2013585. Acesso em: 23 out. 2015.
DE GREGORI, T. Technology and ceremonial behavior: aspects of Institutionalism. Journal of Economic Issues, v. 11, n. 4, p. 861-870, 1977.
DORFMAN, J. Thorstein Veblen and his America. New York: Viking Press, 1934. DUGGER, W. Power: An institutional framework of analysis. Journal of Economic Issues, v. 14, n. 4, p. 897-907, 1980.
DUGGER, W. Radical institutionalism: basic concepts. Review of Radical Political Economics, v. 20, n. 1, p. 1-20, 1988.
DUGGER, W. Emulation: an institutional theory of value formation. Review of Social Economy, v. 47, n. 2, p. 134-154, 1989.
DUGGER, W.; SHERMAN, H. Comparison of Marxism and institutionalism. Journal of Economic Issues, v. 28, n. 1, p.101-127, 1994.
DUGGER, W.; WALLER, W. Radical institutionalism: from technological to democratic instrumentalism. Review of Social Economy, v. 54, n. 2, p. 169-189, 1996.
FOSTER, J. F. John Dewey and economic value. Journal of Economic Issues, v. 15, n. 4, p. 871-897, 1981a.
FOSTER, J. F. The relation between the theory of value and economic analysis. Journal of Economic Issues, v. 15, n. 4, p. 899-905, 1981b.
GAMBS, J. Allan Gruchy and the association for evolutionary economics. In: ADAMS, J. (Org.). Institutional economics: essays in honor of Allan G. Gruchy. Boston: Martinus Nijhoff, 1980. p. 26-30.
GORDON, W. Institutionalized consumption patterns in underdeveloped countries. Journal of Economic Issues, v. 7, n. 2, p. 267-287, 1973.
HAMILTON, D. Institutions and technology are neither. Journal of Economic Issues, v. 20, n. 2, p. 525-532, 1986.
HAMILTON, W. The institutional approach to economic theory. American Economic Review, v. 9, n. 1, p. 309-318, 1919.
HICKERSON, S. R. Planning for institutional change in a complex environment: an approach and an application. Journal of Economic Issues, v. 17, n. 3, p. 631-665, 1983.
HODGSON, G. The approach of institutional economics. Journal of Economic Literature, v. 36, p. 166-192, 1998.
HODGSON, G. The evolution of institutions: an agenda for future theoretical research. Constitutional Political Economy, v. 13, n. 2, p. 111-127, 2002.
HODGSON, G. The evolution of institutional economics: agency, structure and Darwinism in American institutionalism. New York; London: Routledge, 2004a.
HODGSON, G. Reclaiming habits for institutional economics. Journal of Economic Psychology, v. 25, n. 4, p. 651-660, 2004b.
JUNKER, L. The ceremonial-instrumental dichotomy in institutional analysis: the nature, scope and radical implications of the conflicting systems. American Journal of Economics and Sociology, v. 41, n. 2, p. 141-150, 1982.
JUNKER, L. The conflict between the scientific-technological process and malignant ceremonialism. American Journal of Economics and Sociology, v. 42, n. 3, p. 341-352, 1983.
KLEIN, P. Institutionalists, radical economists, and class. Journal of Economic Issues, v. 26, n. 2, p. 535-544, 1992.
LEE, F. A history of heterodox economics: challenging the mainstream in the twentieth century. Oxford: Routledge, 2009.
LOWE, A. What is evolutionary economics? Journal of Economic Issues, v. 14, n. 2, p. 247-254, 1980.
MAYHEW, A. Ayresian technology, technological reasoning, and doomsday. Journal of Economic Issues, v. 15, n. 2, p. 513-520, 1981.
MAYHEW, A. Culture: core concept under attack. Journal of Economic Issues, v. 21, n. 2, p.587-603, 1987.
MAYHEW, A. Waller on radical institutionalism: a comment. Journal of Economic Issues, v. 24, n. 3, p. 890-896, 1990.
O’HARA, P. Association for evolutionary economics and association for institutional thought. In: O’HARA, P. Encyclopedia of political economy. London: Routledge, 1995. p. 20-30.
O’HARA, P. A new measure of macroeconomic performance and institutional change: the index of community, warranted knowledge, and participation. Journal of Economic Issues, v. 31, n. 1, p. 103-129, 1997.
RUTHERFORD, M. Clarence Ayres and the instrumental theory of value. Journal of Economic Issues, v. 15, n. 3, p. 657-673, 1981.
RUTHERFORD, M. Thorstein Veblen and the process of institutional change. History of Political Economy, v. 16, n. 3, p. 331-334, 1984.
RUTHERFORD, M. Institutions in economics: the old and the new institutionalism. London: Cambridge University Press, 1994.
RUTHERFORD, M. Veblen’s evolutionary programme: a promise unfulfilled. Cambridge Journal of Economics, v. 22, p. 463-477, 1998.
RUTHERFORD, M. American institutionalism after 1945: a research annual. Research in the History of Economic Thought and Methodology, v. 33, p. 95-123, 2015.
SAMUELS, W. The case for methodological pluralism. In: SALANTI, A.; SCREPANTI, E. Pluralism in economics: new perspectives in history and methodology. Cheltenham, Brookfield: Edward Elgar, 1997.
SAMUELS, W. In (limited but affirmative) defense of Nihilism. Review of Political Economy, v. 5, n. 2, 2006.
SHIPMAN, A. Lauding the leisure class: symbolic content and conspicuous consumption. Review of Social Economy, v. 62, n. 3, p. 277-289, 2004.
STURGEON, J. I. The history of the association of institutional thought. Review of Institutional Thought, v. 1, n. 1, p. 40-53, 1981. TOOL, M. (Org.). Evolutionary economics: foundation of institutional thought. New York: M. E. Sharpe, 1988a. v. 1.
TOOL, M. Evolutionary economics: foundation of institutional thought. New York: M. E. Sharpe, 1988b. v. 2.
VEBLEN, T. Why is economics not an evolutionary science. The Quarterly Journal of Economics, v. 12, n. 4, p. 373-397, 1898.
VEBLEN, T. The preconceptions of economic science I. The Quarterly Journal of Economics, v. 13, n. 4, p. 396-426, 1899a.
VEBLEN, T. The theory of leisure class. New York; Oxford: Oxford University Press, 2007 [1899b].
VEBLEN, T. The theory of business enterprise. Gloucester: Dodo Press, 2009 [1906].
VEBLEN, T. The limitations of marginal utility. Journal of Political Economy, v. 17, n. 9, p 620-636, 1909.
VEBLEN, T. Imperial Germany and the industrial revolution. New York: MacMillan, 1915.
VEBLEN, T. The higher learning in America. New York: B. W. Huebsch, 1918.
VEBLEN, T. The vested interests and the common man. New York: Cosimo, 2005 [1919].
WALLER, W. T., Jr. Ceremonial encapsulation and corporate cultural hegemony. Journal of Economic Issues, v. 21, n. 1, p. 321-327, 1987.
WALLER, W. T., Jr. Radical institutionalism: methodological aspects of the radical tradition. Journal of Economic Issues, v. 22, n. 3, p. 667-674, 1988.
WALLER, W. T., Jr. Avoiding the Cartesian vice in radical institutionalism: a reply to Mayhew. Journal of Economic Issues, v. 24, n. 3, p. 897-901, 1990.
WHALEN, C. Wallace C. Peterson: a post-Keynesian institutionalist. Journal of Economic Issues, v. 50, n. 2, p. 584-593, 2016.
ALMEIDA, F. Inside the organizational institutions of institutional economics: why are there two institutionalist associations? Journal of Economic Issues, v. 50, n. 2, p. 566-574, 2016.
AYRES, C. The epistemological significance of social psychology. The Journal of Philosophy, Psychology and Scientific Methods, v. 15, n. 2, p. 35-44, 1918a.
AYRES, C. The function and problems of economic theory. Journal of Political Economy, v. 26, n. 1, p. 69-90, 1918b. AYRES, C. Instinct and capacity I: the instinct of belief-in-instinct. The Journal of Philosophy, v. 18, n. 21, p. 561-565, 1921a.
AYRES, C. Instinct and capacity II: homo domesticus. The Journal of Philosophy, v. 18, n. 22, p. 600-606, 1921b.
AYRES, C. Moral confusion in economics. International Journal of Ethics, v. 45, n. 2, p. 170-199, 1935.
AYRES, C. Economic value and scientific synthesis. The American Journal of Economics and Sociology, v. 1, n. 4, p. 343-360, 1942.
AYRES, C. The theory of economic progress. The University of North Carolina Press. 1944.
AYRES, C. The co-ordinates of institutionalism. The American Economic Review. Papers and Proceedings of the Sixty-third Annual Meeting of the American Economic Association, v. 41, n. 2, p. 47-55, 1951.
AYRES, C. Toward a reasonable society: the values of industrial civilization. Austin University of Texas Press. 1961.
BUSH, P. D. An exploration of the structural characteristics of a Veblen-AyresFoster defined institutional domain. Journal of Economic Issues, v. 17, n. 1, p. 3562, 1983.
BUSH, P. The theory of institutional change. Journal of Economic Issues, v. 21, n. 3, p. 1075-1116, 1987.
BUSH, P. Reflections on the twenty-fifth anniversary of AFEE: philosophical and methodological issues in institutional economics. Journal of Economic Issues, v. 25, n. 2, p. 321-346, 1991.
BREIT, W.; CULBERTSON JR. Clarence Edwin Ayres: an intellectual’s portrait. In: BREIT, W.; CULBERTSON JR. Science and ceremony: the institutional economics of C. E. Ayres. University of Texas Press, Austin e London, 1976.
CAVALIERI, M. Thorstein Veblen entre seus pares economistas: um estudo sobre a audiência e a estrutura argumentativa de sua crítica sistemática ao pensamento econômico. Nova Economia, v. 25, p. 389-412, 2015.
CAVALIERI, M.; ALMEIDA, F. Institutionalists as dissenters: why were institutionalists so dissatisfied with economics during the post-war period. Journal of Economic Issues, v. 49, n. 2, p. 475-482, 2015.
COATES, A. W. Clarence Ayres’s place in the history of American economics: an interim assessment. In: BREIT, W.; CULBERTSON JR. Science and ceremony: the institutional economics of C. E. Ayres. Austin; London: University of Texas Press, 1976.
DAVIS, J. Samuels on methodological pluralism in economics. Disponível na SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2013585. Acesso em: 23 out. 2015.
DE GREGORI, T. Technology and ceremonial behavior: aspects of Institutionalism. Journal of Economic Issues, v. 11, n. 4, p. 861-870, 1977.
DORFMAN, J. Thorstein Veblen and his America. New York: Viking Press, 1934. DUGGER, W. Power: An institutional framework of analysis. Journal of Economic Issues, v. 14, n. 4, p. 897-907, 1980.
DUGGER, W. Radical institutionalism: basic concepts. Review of Radical Political Economics, v. 20, n. 1, p. 1-20, 1988.
DUGGER, W. Emulation: an institutional theory of value formation. Review of Social Economy, v. 47, n. 2, p. 134-154, 1989.
DUGGER, W.; SHERMAN, H. Comparison of Marxism and institutionalism. Journal of Economic Issues, v. 28, n. 1, p.101-127, 1994.
DUGGER, W.; WALLER, W. Radical institutionalism: from technological to democratic instrumentalism. Review of Social Economy, v. 54, n. 2, p. 169-189, 1996.
FOSTER, J. F. John Dewey and economic value. Journal of Economic Issues, v. 15, n. 4, p. 871-897, 1981a.
FOSTER, J. F. The relation between the theory of value and economic analysis. Journal of Economic Issues, v. 15, n. 4, p. 899-905, 1981b.
GAMBS, J. Allan Gruchy and the association for evolutionary economics. In: ADAMS, J. (Org.). Institutional economics: essays in honor of Allan G. Gruchy. Boston: Martinus Nijhoff, 1980. p. 26-30.
GORDON, W. Institutionalized consumption patterns in underdeveloped countries. Journal of Economic Issues, v. 7, n. 2, p. 267-287, 1973.
HAMILTON, D. Institutions and technology are neither. Journal of Economic Issues, v. 20, n. 2, p. 525-532, 1986.
HAMILTON, W. The institutional approach to economic theory. American Economic Review, v. 9, n. 1, p. 309-318, 1919.
HICKERSON, S. R. Planning for institutional change in a complex environment: an approach and an application. Journal of Economic Issues, v. 17, n. 3, p. 631-665, 1983.
HODGSON, G. The approach of institutional economics. Journal of Economic Literature, v. 36, p. 166-192, 1998.
HODGSON, G. The evolution of institutions: an agenda for future theoretical research. Constitutional Political Economy, v. 13, n. 2, p. 111-127, 2002.
HODGSON, G. The evolution of institutional economics: agency, structure and Darwinism in American institutionalism. New York; London: Routledge, 2004a.
HODGSON, G. Reclaiming habits for institutional economics. Journal of Economic Psychology, v. 25, n. 4, p. 651-660, 2004b.
JUNKER, L. The ceremonial-instrumental dichotomy in institutional analysis: the nature, scope and radical implications of the conflicting systems. American Journal of Economics and Sociology, v. 41, n. 2, p. 141-150, 1982.
JUNKER, L. The conflict between the scientific-technological process and malignant ceremonialism. American Journal of Economics and Sociology, v. 42, n. 3, p. 341-352, 1983.
KLEIN, P. Institutionalists, radical economists, and class. Journal of Economic Issues, v. 26, n. 2, p. 535-544, 1992.
LEE, F. A history of heterodox economics: challenging the mainstream in the twentieth century. Oxford: Routledge, 2009.
LOWE, A. What is evolutionary economics? Journal of Economic Issues, v. 14, n. 2, p. 247-254, 1980.
MAYHEW, A. Ayresian technology, technological reasoning, and doomsday. Journal of Economic Issues, v. 15, n. 2, p. 513-520, 1981.
MAYHEW, A. Culture: core concept under attack. Journal of Economic Issues, v. 21, n. 2, p.587-603, 1987.
MAYHEW, A. Waller on radical institutionalism: a comment. Journal of Economic Issues, v. 24, n. 3, p. 890-896, 1990.
O’HARA, P. Association for evolutionary economics and association for institutional thought. In: O’HARA, P. Encyclopedia of political economy. London: Routledge, 1995. p. 20-30.
O’HARA, P. A new measure of macroeconomic performance and institutional change: the index of community, warranted knowledge, and participation. Journal of Economic Issues, v. 31, n. 1, p. 103-129, 1997.
RUTHERFORD, M. Clarence Ayres and the instrumental theory of value. Journal of Economic Issues, v. 15, n. 3, p. 657-673, 1981.
RUTHERFORD, M. Thorstein Veblen and the process of institutional change. History of Political Economy, v. 16, n. 3, p. 331-334, 1984.
RUTHERFORD, M. Institutions in economics: the old and the new institutionalism. London: Cambridge University Press, 1994.
RUTHERFORD, M. Veblen’s evolutionary programme: a promise unfulfilled. Cambridge Journal of Economics, v. 22, p. 463-477, 1998.
RUTHERFORD, M. American institutionalism after 1945: a research annual. Research in the History of Economic Thought and Methodology, v. 33, p. 95-123, 2015.
SAMUELS, W. The case for methodological pluralism. In: SALANTI, A.; SCREPANTI, E. Pluralism in economics: new perspectives in history and methodology. Cheltenham, Brookfield: Edward Elgar, 1997.
SAMUELS, W. In (limited but affirmative) defense of Nihilism. Review of Political Economy, v. 5, n. 2, 2006.
SHIPMAN, A. Lauding the leisure class: symbolic content and conspicuous consumption. Review of Social Economy, v. 62, n. 3, p. 277-289, 2004.
STURGEON, J. I. The history of the association of institutional thought. Review of Institutional Thought, v. 1, n. 1, p. 40-53, 1981. TOOL, M. (Org.). Evolutionary economics: foundation of institutional thought. New York: M. E. Sharpe, 1988a. v. 1.
TOOL, M. Evolutionary economics: foundation of institutional thought. New York: M. E. Sharpe, 1988b. v. 2.
VEBLEN, T. Why is economics not an evolutionary science. The Quarterly Journal of Economics, v. 12, n. 4, p. 373-397, 1898.
VEBLEN, T. The preconceptions of economic science I. The Quarterly Journal of Economics, v. 13, n. 4, p. 396-426, 1899a.
VEBLEN, T. The theory of leisure class. New York; Oxford: Oxford University Press, 2007 [1899b].
VEBLEN, T. The theory of business enterprise. Gloucester: Dodo Press, 2009 [1906].
VEBLEN, T. The limitations of marginal utility. Journal of Political Economy, v. 17, n. 9, p 620-636, 1909.
VEBLEN, T. Imperial Germany and the industrial revolution. New York: MacMillan, 1915.
VEBLEN, T. The higher learning in America. New York: B. W. Huebsch, 1918.
VEBLEN, T. The vested interests and the common man. New York: Cosimo, 2005 [1919].
WALLER, W. T., Jr. Ceremonial encapsulation and corporate cultural hegemony. Journal of Economic Issues, v. 21, n. 1, p. 321-327, 1987.
WALLER, W. T., Jr. Radical institutionalism: methodological aspects of the radical tradition. Journal of Economic Issues, v. 22, n. 3, p. 667-674, 1988.
WALLER, W. T., Jr. Avoiding the Cartesian vice in radical institutionalism: a reply to Mayhew. Journal of Economic Issues, v. 24, n. 3, p. 897-901, 1990.
WHALEN, C. Wallace C. Peterson: a post-Keynesian institutionalist. Journal of Economic Issues, v. 50, n. 2, p. 584-593, 2016.
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