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Hobson, Veblen and American Institutionalism

In: J. A. Hobson after Fifty Years

Author

Listed:
  • Walter C. Neale
  • Anne Mayhew

Abstract

Was John A. Hobson an institutionalist? Institutionalism has usually been regarded as peculiarly American. However, Hobson shared with the institutionalists an appreciation of the inadequacy of received economic theory to describe an industrial society. More importantly, many of his own analyses were similar to those of American institutionalists. We here attempt to answer our question by looking for a common core in the analyses of both. In doing so we focus upon a comparison of Hobson and Thorstein Veblen, who was a contemporary of Hobson’s and who first articulated many of the basic propositions of institutionalism.1

Suggested Citation

  • Walter C. Neale & Anne Mayhew, 1994. "Hobson, Veblen and American Institutionalism," Palgrave Macmillan Books, in: John Pheby (ed.), J. A. Hobson after Fifty Years, chapter 12, pages 225-237, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23213-0_12
    DOI: 10.1007/978-1-349-23213-0_12
    as

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