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A Comparison of Veblen and Schumpeter on Technology

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  • Ceyhun Gurkan

    (Ankara Universitesi)

Abstract

This paper aims at demonstrating the significance of two alternative approaches developed by Veblen and Schumpeter to technology underlying recent institutionalist and evolutionary stances. It should be mentioned that it is not the primary object of this paper to specify their clear-cut disagreement about the characterization of technology and the process of technical advance. Instead, it is engage with providing with an overall understanding of technological motion in capitalist accumulation processes by reconciling the two approaches in a meaningful way. Thus, this comparative analysis based upon their congruent and conflicting arguments presents us not only a general review and the solid foundations of an institutionalist approach to technological phenomena, but also an alternative conceptual framework for science and technology policy studies.

Suggested Citation

  • Ceyhun Gurkan, 2005. "A Comparison of Veblen and Schumpeter on Technology," STPS Working Papers 0509, STPS - Science and Technology Policy Studies Center, Middle East Technical University, revised Sep 2005.
    • Handle: RePEc:met:stpswp:0509
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    File URL: http://www.stps.metu.edu.tr/sites/stps.metu.edu.tr/files/0509.pdf
    File Function: First version, 2005
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    References listed on IDEAS

    as
    1. L. A. O'Donnell, 1973. "Rationalism, Capitalism, and the Entrepreneur: The Views of Veblen and Schumpeter," History of Political Economy, Duke University Press, vol. 5(1), pages 199-214, Spring.
    2. Dosi, Giovanni, 1993. "Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change," Research Policy, Elsevier, vol. 22(2), pages 102-103, April.
    3. Thorstein Veblen, 1905. "Credit and Prices," Journal of Political Economy, University of Chicago Press, vol. 13(3), pages 460-460.
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    Cited by:

    1. Dieter Bögenhold & Panayotis G. Michaelides & Theofanis Papageorgiou, 2021. "Schumpeter, Veblen, and Bourdieu on Institutions and the Formation of Habits," Springer Books, in: Neglected Links in Economics and Society, chapter 0, pages 233-259, Springer.
    2. Theofanis Papageorgiou & Ioannis Katselidis & Panayotis G. Michaelides, 2013. "Schumpeter, Commons, and Veblen on Institutions," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1232-1254, November.
    3. Ishaan Gera & Seema Singh, 2019. "A Critique of Economic Literature on Technology and Fourth Industrial Revolution: Employment and the Nature of Jobs," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 62(4), pages 715-729, December.

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