Title Pending 593
Anna Kurysheva & Andrei Vernikov
What the paper says
This is an accepted article with a DOI pre-assigned that is not yet published.We summarize the views of original American institutionalists regarding economic arrangement driven by pecuniary motive, and contextualize the financialization of nowadays. The ideas of Thorstein Veblen, John Commons and other scholars are at odds with the modern discourse that favors a finance-driven economy. We focus on five aspects: (1) Thorstein Veblen’s evolutionary and anthropological approach to pecuniary culture and how this culture stems from predatory habits and spurs debt-financed growth; (2) financiers’ sabotage as a case of the dichotomy between industry and business; (3) John Commons’ analysis of “banker capitalism” as a stage of capitalistic evolution featured by monetary and credit control, and his reasoning for policy regulations to restrain the power of corporations; (4) the interpretation of economics as a science about social provisioning, methodologically opposed to epistemological hedonism; (5) the role of academia in dissipating myths about banking and finance. We conclude that the ethicality and community-oriented methodology of original institutionalists can underpin insights in the area of critical finance.
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.50 × 0.4 = 0.20 |
| M · momentum | 0.50 × 0.15 = 0.07 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.