Pushkinskaya st. 43. office 10
Rostov-on-Don, Russia
e-mail: info@hjournal.ru 
tel. +7(863) 269-88-14

cubsEN (2)

Institutional Approach in Economics and to Economics. Part II

Institutional Approach in Economics and to Economics. Part II

Journal of Institutional studies, , Vol. 7 (no. 4),

The paper attempts to justify an alternative to conventional methodology of economics, as well as make a corresponding revision of the history of this discipline. It explains why the discipline in its orthodox version, and for the most unorthodox directions, is cognitively sterile and socio-economico-politically very harmful. The paper can be seen as a manifesto which calls for a radical change in the discipline. As a manifesto, it probably could be called "Economics: from repentance and resurrection", that is, I suggest to economists to repent of the harm that this discipline has brought and on the basis of this reflection to revive it in the different methodological framework that is able to make economics socially useful. The second part of the paper, which is published in this issue, consists of two sections. In the first one (section number 4) economics is regarded as an institution and discusses its origin and evolution, as well as its current operation. On the basis of the analysis made in this section we can conclude that this institution has a very high degree of stability and because of that it cannot be reformed without an active external intervention. The fifth section of the paper is devoted to the link of the social role of economics with its methodology. It argues that the social function of economic science is the study of reality as it is, and underlines that economic education must be oriented in this direction.

Keywords: economic mainstream and the theological tradition of Anglo-Saxon universities; the birth of institutionalism and the tradition of German research universities; economic science as an institution; types of academic economists according to their values; methodological classification of academic economists; the social function of economics; modern model of scientific research; constructivist view of scientific research; autistic economic science and education; socio-economic reforms and the reform of economic science and education

  •  Ananin O. (2005). The structure of economic and theoretical knowledge. Methodological analysis. Мoscow, Science [Nauka] Publ. (In Russian).
  • Avtonomov V. et al. (2008). History of economic thought. Moscow, INFRA-М. (In Russian).
  • Baritono R. (1993). Beyond Politics: The Politico-Institutional Crisis in the Late-Nineteenth – and Early-Twenty-Century United States. Bologna, Il Mulino. (In Italian).
  • Berger P. L. and Luckmann T. (1995). The Social Construction of Reality. A Treatise on sociology of Knowledge. Moscow, Medium Publ. (In Russian).
  • Blaug M. (1986). Great Economists before Keynes. London, Whitesheaf Books Ltd.
  • Bogolyubov A. (1984). Robert Hooke (1635-1703). Moscow, Science [Nauka] Publ. (In Russian).
  • Bonner B. and Wiggin A. (2006). Empire of Dept. The Rise of an Epic Financial Crisis. NY, John Wiley & Sons, Inc.
  • Bonner W. and Wiggin A. (2008). Financial Reckoning Day: Surviving the Soft Depression of the 21st Century. Chelyabinsk, Socium Publ. (In Russian).
  • Charle Ch. et Verger J. (2007). Histoire des universités. Paris, PUF.
  • Cléro J.-P. et Laval Ch. (2002). Le vocabulaire de Bentham. Paris, Ellipses.
  • Coats A. W. (1993). The Sociology and Professionalization of Economics. British and American economic essays Volume II. London and New York, Routledge.
  • Colander D. and Klamer A. (1990). The Making of an Economist. Boulder, Colorado, Westview.
  • Collander D. (2007). The Making of an Economist, Redux. Princeton and Oxford, Princeton University Press.
  • Commons J. R. (1964). Myself. The Autobiography of John R. Commons, reprinted Madison, The University of Wisconsin Press.
  • Commons J. R. et al. (1966). History of Labour in the United States. (fourvolumes). NY, Augustus M. Kelley Publishers.
  • Commons J. R. (1967). Social Reform & the Church. NY, Augustus M. Kelley Publishers.
  • Commons J. R. (1990). Institutional Economics. Its Place in Political Economy. New Brunswick, Transaction Publishers.
  • Cunningham W. (1892a). The Relativity of Economic Doctrine./ The Economic Journal, vol. 2, no. 1, pp. 1 – 16.
  • Cunningham W. (1892b). The Pervasion of Economic History. The Economic Journal, vol. 2, no. 3, pp. 491–506.
  • Cunningham W. (1894). Why had Roscher so little influence in England? Annals of the American Academy of Political and Social Science. November.
  • Cunningham W. (1902). The Gospel of Work: Four lectures on Christian Ethics. Cambridge, Cambridge University Press.
  • Cunningham W. (1909). The Moral Witness of the Church on the Investment of Money and the Use of Wealth. Cambridge, Cambridge University Press.
  • Dmitriev G. (2005). Anatomy of an American university. Moscow, Education [Narodnoe obrazovanie] Publ. (In Russian).
  • Edelman G. M. (2006). Second Nature. Brain Science and Human Knowledge. New Haven and London, Yale University Press.
  • Eliaeson S. (2002). Max Weber’s Methodologies. Cambridge. Polity Press.
  • Ely R. T. (1889). Social Aspects of Christianity, and other Essays. NY. Thomas Y. Crowell & Company Publishers.
  • Ely R. T. (1938). Ground under our Feet. NY, Macmillan.
  • Ely R. T. (2005). The Past and the Present of Political Economy. Marston Gate, UK, Elibron Classics.
  • Fantoli А. (1999). Galileo: For Copernicanism and for the Church. Moscow, MIC Publ. (In Russian).
  • Feyerabend P. (2007). Against Method. Outline of an Anarchist Theory of Knowledge. Moscow, Publisher Guardian. (In Russian).
  • Fichte J. (2000). Facts consciousness. Assigning rights. Naukouchenie. Minsk, Harvest. (In Russian).
  • Fitoussi J.-P. (2001). L’Enseignement supérieur des sciences économiques en question. Paris, Fayard.
  • Friedman M. (1953). Methodology of Positive Economics, in Milton Friedman, Essays in Positive Economics, Chicago, The University of Chicago Press, pp. 3-43.
  • Friedman M. (1994). Methodology of Positive Economics. THESIS, vol. 4, pp. 20-52. (In Russian).
  • Gevorkyan E. N. (2005). Market of educational resources: aspects of modernization. Moscow, Publ. House "Market DS Corporation". (In Russian).
  • Glazyev S. (1998). Genocide. Moscow, Publ. House "Terra". (In Russian).
  • Greenwood D. J. and Levin M. (1998). Introduction to Action Research. Social Research for Social Change, Thousand Oaks, Sage Publications.
  • Grimmer-Solem E. (2002). The Rise of Historical Economics and Social Reform in Germany 1864 – 1894. Oxford, Clarendon Press.
  • Hamiltion W. H. (1974). Industrial Policy and Institutionalism. Selected Essays. Clifton, USA, Augustus M. Kelley Publishers.
  • Hamilton W. H. (2007). The Institutional Approach to Economic Theory. Economic Herald of the Rostov State University, vol. 5, no. 2, pp. 110 –117. (In Russian).
  • Harter L. G. (1962). John R. Commons: His Assault on Laissez-Faire. Corvallis: Oregon State University Press.
  • Harter L. G. (1967). The Legacy of John R. Commons. Journal of Economic Issues, vol. 1, no. 1/2 (June), pp. 63–73.
  • Heilbroner R. (1993). Economic theory as a universal science. THESIS, no. 1, pp. 41-55. (In Russian).
  • Heisenberg V. (2006). Selected philosophical works. St. Petersburg, Science[Nauka] Publ. (In Russian).
  • Humboldt (von) W. (1979). Sur l’organisation interne et externe des établissements scientifiques supérieurs à Berlin (1809 ou 1810) // Philosophies de l’université. L’idéalisme allemand et la question de l’Université. Paris, Payot. pp. 319 – 329.
  • Hummel Ch. (2001). The Galileo Connection. Moscow, Triad Publishing. (In Russian).
  • Johnson-Laird Ph. (1983). Mental Models. Towards a Cognitive Science of Language, Inference, and Consciousness. Cambridge, Massachusetts, Harvard University Press.
  • Johnson-Laird Ph. (2006). How We Reason. Oxford, New York, Oxford University Press.
  • Jorion P. (2003). Investing in a Post-Enron World. NY, McGrow-Hill. 2003.
  • Jorion P. (2007). Vers la crise du capitalisme américain? Paris, La Découverte.
  • Jorion P. (2008a). L’implosion. La finance contre l’économie. Ce que révèle et annonce la «crise des subprimes. Paris, La Découverte.
  • Jorion P. (2008b). La crise. Des subprimes au séisme financier planétaire. Paris, La Découverte.
  • Keynes J. (1993). Alfred Marshall, 1842 - 1924 // A. Marshall. The principles of economics, vol. 1. Moscow, Progress Publ, pp. 5–55. (In Russian).
  • Krueger A. O. et al. (1991). Report of the Commission on Graduate Education in Economics. Journal of Economic Literature, vol. XXIX, no. 3 (September), pp. 1035–1053.
  • Kuhn T. (2002). Structure of Scientific Revolutions. Moscow, AST Publ. (In Russian).
  • Kuz'minov Ya. and Yudkevich M. (2007). Academic freedom and standards of behavior. Voprosy Ekonomiki, no. 6, pp. 80–93. (In Russian).
  • Latour B. (1997). Nous n’avons jamais été modernes. Essai d’anthropologie symétrique. Paris, La Découverte.
  • Latour B. (2001). Pasteur: guerre et paix des microbes. Paris, La Découverte.
  • Latour B. (2006a). When things rebuff: the possible contribution of "sciencestudies" to the social sciences // Vahshteyn V. (ed.) Sociology of things. Moscow, Publ. House "The Territory of the Future", pp. 342-366. (In Russian).
  • Latour B. (2006b). New time was not. Essays on anthropology symmetrical. St. Petersburg, Publ. House of the European University. (In Russian).
  • Latour B. and Woolgar S. (1979). Laboratory Life. The Social Construction of Scientific Facts. Losangeles, London, Sage.
  • Lebaron F. (2005). Pierre Bourdieu's sociology and economics // Sociology in Question. Social Sciences in the Post-Structuralist Perspective. Almanac Russian-French Center of Sociology and Philosophy of the Institute of Sociology. Moscow, Praxis Publ., pp. 79–90. (In Russian).
  • Lewis H. L. (2007). Excelence Wiyhout a Soul. Does Liberal Education Have a Future? New York, Public Affairs.
  • Makasheva N. A. (Rep. Ed.). (2006). Economic science and economics during the transitional period. Moscow, INION RAN Publ. (In Russian).
  • McCarthy Ch. (1912). The Wisconsin Idea. New York, Macmillan.
  • Ménard C. (ed.) (2000). Institutions, Contracts and Organizations: Perspectives from New Institutional Economics. Cheltenham, Edward Elgar.
  • Mentsin Y. (1993). Laboratory and parliament (At the root of modern political culture of the West). Problems of History of Science and Technology, no. 4. (In Russian).
  • Mill J. S. (1886). System of Logic Ratiocinative and Inductive Being a Connected View of the the Principles of Evidence and the Methods of Scientific Investigation. London, Longmans.
  • Mill J. S. (1994). On the definition and method of political economy // D. M. Hausman (Ed.) The Philosophy of Economics. An Anthology. Cambridge, CambridgeUniversity Press.
  • Mill J. S. (2007a). Auguste Comte and Positivism. Moscow, LKI Publ. (In Russian).
  • Mill J. S. (2007b). The Principles of Political Economy: with some of their applications to social philosophy. Moscow, EKSMO Publ. (In Russian).
  • Mill J. S. (2008). Autobiography of John Stuart Mill. Rockville, Maryland, Arc Manor.
  • Mirowski Ph. (1987). The Philosophival Bases of Institutionalist Economics. Journal of Economic Issues, vol. XXI, no. 3, September, pp. 1001–1038.
  • Newman F. et al. (2004). The Future of Higher Education. Rhetoric, Reality, and the Risks of the Market. San Francisco, California, Jossey-Bass.
  • Okrepilov V. V. (eds.) (2007). Nobel Prize in Economics. Vol. 1 (1969 – 1982). St. Petersburg, Science [Nauka] Publ. (In Russian).
  • Peirce C. S. (1998). The Essential Peirce. Selected Philosophical Writings, vol. 2, Bloomington, Indiana University Press.
  • Peirce C. S. (2000a). Selected Works. Moscow, Logos Publ. (In Russian).
  • Peirce C. S. (2000b). Start pragmatism. St. Petersburg, Aletheia Publ. (In Russian).
  • Rader B. G. (1966). The Academic Mind and Reform. The Influence of Richard T. Ely in American Life. University of Kentucky Press.
  • Raushenbush P. A. and Raushenbush E. B. (1979). Our “U.C.” Story (1930 – 1967). Madison, Wisconsin.
  • Roosevelt T. (1912). Introduction to the book. McCarthy.
  • Rousseau J.-J. (2002). Discours sur l’économie politique. Paris, Vrin.
  • Rutherford M. (2006). Wisconsin Institutionalism: John R. Commons and his Students. Labor History, no. 47 (May), pp. 161–188.
  • Sachkov Yu. V. (2003). Scientific method. Questions and development. Moscow, Publ. House URSS. (In Russian).
  • Samuelson P. and Barnett W. (ed.) (2009). Inside the Economist's Mind: Conversations with Eminent Economists. Moscow, Skolkovo. (In Russian).
  • Schlabach T. F. (1963-1964). An Aristocrat on Trial: The Case of Richard T. Ely. The Wisconsin Magazine of History, vol. 47, no. 2 (Winter), pp. 149–159.
  • Schleiermacher F. (2004). Hermeneutics. St. Petersburg, European Publishing House. (In Russian).
  • Shtekli A. (1972). Galileo. Moscow, Young guard Publ. (In Russian).
  • Shapin S. and Schaffer S. (1985). Leviathan and the Air-Pump. Hobbes, Boyle, and the Experimental Life. Princeton University Press.
  • Shapin S. (1994). A Social History of Truth. Civility and Science in Seventeenth-Century England. Chicago and London, The University of Chicago Press.
  • Slaughter Sh. and Rhoades G. (2004). Academic Capitalism and the New Economy. Markets, State, and Higher Education. Baltimore and London, The John Hopkins University Press.
  • Sonin K., Khovanskaya I. and Yudkevich M. (2008). Building Research University: financing structure and professors employment conditions. Voprosy Ekonomiki, no. 12, pp. 72-83. (In Russian).
  • Suspitsyna T. (2005). Adaptation of Western Economics by Russian Universities. Intercultural Travel of an Academic Field. New York and London, Routledge.
  • Svetlov V. A. (2008). The history of the scientific method. Moscow, Academic Project Publ. (In Russian).
  • Thomas W. I. and Znaniecki F. (1926). The Polish Peasant in Europe and America, 2 vols., New York, Knopf.
  • Tribe K. (2002). Historical Schools of Economics: German and English. Keele Economics Research Paper, Keele University, no. 2.
  • Vakhshtayn V. (ed.) (2006). Sociology of things. Moscow, The Territory of the Future Publ. (In Russian).Vavilov N. (1945). Isaac Newton. Moscow-Leningrad, USSR Academy of Sciences Publ. (In Russian).
  • Washburn J. (2005). University Inc. The Corporate Corruption of American Higher Education. New York, Basic Books.
  • Weber M. (1989). Max Weber Selected Works 1908 – 1932. New York, Meredith.
  • Whalen Ch. J. (2008). John R Commons and John Maynard Keynes on Economic History and Policy: The 1920s and Today. Journal of Economic Issues, vol. 42.
  • Yefimov V. (1997). Approche institutionnelle de l'analyse de la transition. Revue d'études comparatives Est-Ouest. Paris, C.N.R.S., no. 2, pp. 99-119.
  • Yefimov V. (2003). Economie institutionnelle des transformations agraires en Russie. Paris, l’Harmattan.
  • Yefimov V. M. (2007). The debate about the methods and institutional economics. Economic Herald of the Rostov State University, vol. 5, no, 3, pp. 18–36. (In Russian).
  • Zilina I. (2006). Transformation of content the economic disciplines courses in higher education reform // B. Makasheva, pp. 72–98. (In Russian).
Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
Online ISSN: 2412-6039
ISSN: 2076-6297