"Can We Save Veblen and Ayres from Their Saviors? A Response to Professor Klein." (Philip A. Klein)(response to David Hamilton in This Issue, P 1051)

Klein, Philip A., Journal of Economic Issues

One presumes from this title that I have so badly misinterpreted Ayres in my recent essay, "Ayres on Institutions" [1995], that he needs to be "saved" from my dreadful misinterpretations. My purpose in writing the essay was to suggest that in one area, namely his perspective on institutions, Ayres presented a one-sided view.

Certainly, Professor Hamilton says many things with which I (and perhaps most institutionalists) would agree - e.g., "The obsolescence of the institutions is a function of the onward march of the mobilized technology." It is replete with a long discussion of the durability of the role of institutions including many historical examples. While all this is not …

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Publication information: Article title: "Can We Save Veblen and Ayres from Their Saviors? A Response to Professor Klein." (Philip A. Klein)(response to David Hamilton in This Issue, P 1051). Contributors: Klein, Philip A. - Author. Journal title: Journal of Economic Issues. Volume: 31. Issue: 4 Publication date: December 1997. Page number: 1057+. © 1999 Association for Evolutionary Economics. COPYRIGHT 1997 Gale Group.

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