On the difficulty of evolutionary analysis
- 1 July 1998
- journal article
- Published by Oxford University Press (OUP) in Cambridge Journal of Economics
- Vol. 22 (4) , 449-461
- https://doi.org/10.1093/oxfordjournals.cje.a013728
Abstract
Thorstein Veblen's 100-year-old question—‘Why is Economics Not an Evolutionary Science?’—remains relevant. Evolutionary analysis, even for those social scientists who trace their intellectual heritage to evolutionary thought, has been difficult for three reasons: effective incorporation of time requires a respectful and detailed treatment of the past; dominant social science paradigms have made it difficult to account for novelty; and concern with policy and current issues of social debate creates a tendency towards taxonomy. The twentieth-century history of economic anthropology and institutional economics illustrates that a failure to overcome these difficulties leaves Veblen's vision unfulfilled.Keywords
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