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From equilibrium to autopoiesis: A Luhmannian reading of Veblenian evolutionary economics

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  • Valentinov, Vladislav

Abstract

The paper reconstructs the Veblenian critique of the pecuniary economy from the perspective of Niklas Luhmann's theory of autopoietic social systems. Luhmann argued that social systems relieve people from the overwhelming civilizational complexity, but develop autopoietic properties hindering rational solutions to human problems. This argument allows seeing the pecuniary economy as an important complexity-reducing device, which, however, develops excessive autonomy from the embedding societal and ecological environment. For this reason, like other autopoietic systems, the economy has a high chance of becoming societally and ecologically unsustainable. While Veblen criticized the obsession of classical economics with equilibrium and the natural order, Luhmann urged to replace the notion of equilibrium with that of autopoiesis, which focuses attention on the sustainability problem. Accentuating this problem is shown to be the main evolutionary economics implication of Luhmann's work.

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  • Valentinov, Vladislav, 2015. "From equilibrium to autopoiesis: A Luhmannian reading of Veblenian evolutionary economics," Economic Systems, Elsevier, vol. 39(1), pages 143-155.
    • Handle: RePEc:eee:ecosys:v:39:y:2015:i:1:p:143-155
    DOI: 10.1016/j.ecosys.2014.10.004
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    Cited by:

    1. Vladislav Valentinov, 2019. "The Ethics of Functional Differentiation: Reclaiming Morality in Niklas Luhmann’s Social Systems Theory," Journal of Business Ethics, Springer, vol. 155(1), pages 105-114, March.
    2. Stefan Hielscher & Ingo Pies & Vladislav Valentinov & Lioudmila Chatalova, 2016. "Rationalizing the GMO Debate: The Ordonomic Approach to Addressing Agricultural Myths," IJERPH, MDPI, vol. 13(5), pages 1-10, May.
    3. Chatalova, Lioudmila & Djanibekov, Nodir & Gagalyuk, Taras & Valentinov, Vladislav, 2017. "The paradox of water management projects in Central Asia: An institutionalist perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(4), pages 1-14.
    4. Vladislav Valentinov, 2017. "The Rawlsian Critique of Utilitarianism: A Luhmannian Interpretation," Journal of Business Ethics, Springer, vol. 142(1), pages 25-35, April.
    5. Steven E. Wallis & Vladislav Valentinov, 2017. "A Limit to Our Thinking and Some Unanticipated Moral Consequences: A Science of Conceptual Systems Perspective with Some Potential Solutions," Systemic Practice and Action Research, Springer, vol. 30(2), pages 103-116, April.
    6. Lioudmila Chatalova & Daniel Müller & Vladislav Valentinov & Alfons Balmann, 2016. "The Rise of the Food Risk Society and the Changing Nature of the Technological Treadmill," Sustainability, MDPI, vol. 8(6), pages 1-10, June.
    7. Valentinov, Vladislav & Vaceková, Gabriela, 2015. "Sustainability of Rural Nonprofit Organizations: Czech Republic and Beyond," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(8), pages 9890-9906.
    8. Ermanno C. Tortia, 2018. "The Firm as a Common. Non-Divided Ownership, Patrimonial Stability and Longevity of Co-Operative Enterprises," Sustainability, MDPI, vol. 10(4), pages 1-18, March.
    9. Valentinov, Vladislav & Hielscher, Stefan & Pies, Ingo, 2015. "Nonprofit organizations, institutional economics, and systems thinking," Economic Systems, Elsevier, vol. 39(3), pages 491-501.
    10. Valentinov, Vladislav, 2015. "Value devolution in social enterprises: Institutional economics and systems theory perspectives," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 47(9), pages 1126-1133.
    11. Vladislav Valentinov & Stefan Hielscher & Ingo Pies, 2016. "Emergence: A Systems Theory’s Challenge to Ethics," Systemic Practice and Action Research, Springer, vol. 29(6), pages 597-610, December.
    12. Vladislav Valentinov & Gabriela Vaceková, 2015. "Sustainability of Rural Nonprofit Organizations: Czech Republic and Beyond," Sustainability, MDPI, vol. 7(8), pages 1-17, July.
    13. Hielscher, Stefan & Pies, Ingo & Valentinov, Vladislav & Chatalova, Lioudmila, 2016. "Rationalizing the GMO debate: The ordonomic approach to addressing agricultural myths," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 13(5), pages 1-10.

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    More about this item

    Keywords

    Niklas Luhmann; Thorstein Veblen; Evolutionary economics; Autopoiesis; Economic system; Systems theory;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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