Dissertation Abstract
Work, Creativity, and
Habit:
Thorstein Veblen's
Theoretical Contribution to Economics
by
Alan Wayne Dyer
Degree: PH.D.
Year: 1982
Pages: 00216
Institution:
Source: DAI, 44, no. 04A, (1982): 1165
Economists remember Veblen primarily for his
descriptions of early-twentieth century capitalism, not for making a
theoretical contribution to the science of economics. Doubting that he grasped
the nature of scientific inquiry (because he criticized deduction) and failing
to understand his general treatise, The Instinct of Workmanship, most
economists believe that Veblen failed to develop an analytical framework. This
work demonstrates that Veblen not only understood the nature of scientific
inquiry, but that he developed a logically consistent set of hypotheses for
analyzing economic behavior.
Veblen's comprehension of
the nature of scientific inquiry is demonstrated by presenting his theory of
inquiry and comparing it to the one developed by Charles S. Peirce. Veblen,
like Peirce, emphasized the creative phase of inquiry and concluded that it
required a novel (neither deductive not inductive) type of logic. Veblen
criticized deductive logic on the basis of his theory of inquiry, concluding
only that it was unable to generate new hypotheses, not that it was a useless
analytical tool.
Veblen's success in
developing an analytical framework is demonstrated by showing that, in The
Instinct, he developed a general hypothesis on human behavior,
explaining behavior in terms of human nature (instincts), intelligence, and
habit. An important conclusion of his hypothesis was that habits served as
means both of expressing human nature and of social cohesion. Habits evolve, he
argued, because they inevitably wane as means of expressing underlying human
nature and are supplanted by new habits. Using his hypothesis to explain
economic behavior, he focused on the instinct of workmanship, technological
habits, and the relationships of both to other instincts and habits.
Veblen's
framework can be used to address current theoretical issues in both
institutionalist and orthodox economics. Institutionalists can use Veblen to
present a clearer distinction between their economic analysis and that of
orthodox economists and to improve their theory of human nature. Veblen's
hypothesis on habits also responds to recent calls by orthodox economists for
theories that both include broader assumptions about human nature and address
the evolution of economic behavior. The relevance of his framework to these
theoretical issues further demonstrates the scientific nature of Veblen's
contribution to economics.
SUBJECT(S)
Descriptor: ECONOMICS, THEORY
Accession
No: AAG8318892
Provider: OCLC
Database: Dissertations