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Cornelius Castoriadis on institutions: a proposal for a schema of institutional change

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  • Angelos T Vouldis

Abstract

The paper presents the thought of the political philosopher Cornelius Castoriadis on institutions and argues that his insights contribute significantly to the development of a theory of institutions and institutional change which moves beyond the neoclassical framework. Stylised facts of historical experience such as strong path-dependence and lock-in effects and the diversity of observed institutional forms are explained naturally in his proposed framework. In addition, a schema for institutional change is suggested, which accommodates a number of other strands in the literature as special cases. This schema could be elaborated in various directions and facilitates structuring the further development of an alternative institutional theory.

Suggested Citation

  • Angelos T Vouldis, 2018. "Cornelius Castoriadis on institutions: a proposal for a schema of institutional change," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(5), pages 1435-1458.
    • Handle: RePEc:oup:cambje:v:42:y:2018:i:5:p:1435-1458.
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    File URL: http://hdl.handle.net/10.1093/cje/bex078
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