Is there compatibility between Nelson’s ‘Social Technology’ and Hodgson’s ‘Veblenian Causality’?
This paper aims to discuss the role and the relationship among the concept of institutions and the economic growth process, through the Neo-Schumpeterian and Institutionalist approaches. Both of them constitute a new research agenda differentiated and opposite to the mainstream. In the first part of the paper we discuss the research agenda proposed by Richard Nelson who emphasizes the necessity to unpack the institution concept throughout the social technology notion. In the second part we discuss Geoffrey Hodgson’s contribution that suggests ing this process in an evolutionary perspective, which has in habits, norms and social behavior his major characteristic.
JEL Classification: B52; B25.
Keywords: institutions technology economic growth evolutionism