Radical Institutionalism: From Technological to Democratic Instrumentalism
Author(s)
Dugger, William M.; Waller, William
Abstract
Radical institutionalism is an extension of institutional economic theory and attempts to shift it beyond its foundation based on the obsolete theories of Clarence E. Ayres. Radical institutionalism introduces three new components into the modern institutionalist paradigm. The three include recreating the insight learned from the theories of Thorstein Veblen and applying them to institutional economic paradigms in a meaningful way, a change in research interests and a re-evaluation of the philosophical bases of economic inquiry.