Institutional Economics as Social Criticism and Political Philosophy

Abstract:

Institutional economists make certain philosophical assumptions that have related political and sociocultural objectives. These are outlined here and their doctrinal and behavioral implications explored. Evolutionary naturalism with its Darwinian and pragmatic roots is delineated, its significance for a left-liberal politics aimed at social engineering and a more egalitarian collectivism further developed. Social reconstruction of a non-invidious and non-emulatory kind and the political means for achieving it is suggested. The political action necessary for the renovation of existing atavistic continuities such as corporate-commercial class-based hegemony, nihilistic and anarchistic individualism, and religious conservatism is tentatively and provisionally advanced. In short, both the means and ends and much of the metatheoretical basis of institutional economics are outlined to encourage a more publicly visible and self-conscious intellectual posture on the part of evolutionary social scientists. One which focuses on its doctrinal basis, political aims and long term policy intent as well as on the personal deportment of institutionalists themselves.

Keywords::

• institutionalism
• evolutionary naturalism
• empirical collectivism