Why is Economics Not an Evolutionary Science?
About this book
On the one hand, Veblen labeled the classical economic theory as purely static and therefore unable to model the phenomenon of societal or economic change in an adequate way. On the other hand, he criticized the deterministic methods used by the lion's share of economists living in his age, which valiantly rule out the potential for identifying causalities relevant to processes of economic change, which are ”always in the last resort a change in habits of thought”. Moreover, he castigated the use of the economic theory as “a projection of an ideal of conduct“, which ”is made to serve as a canon of truth”.As Veblen put it, the realistic economic agent has both antecedence and consequence: the individual has a history and makes history. This book is for the reads who are interested in knowing the essential thoughts of evolutionary economics coined by Veblen.