One Hundred Years Between Complementary Institutionalist Theoretical Frameworks: Thorstein Veblen And Geoffrey Hodgson

In this article, we seek to present complementarities between the main theoretical-analytical categories, approached by Thorstein Veblen and Geoffrey Hodgson, representatives, respectively, of Old North American Institucionalism and Neo-Institucionalism. Particular emphasis is given to institutionalist criticism concerning approaches that advocate the supremacy of the structure over the individual or of the individual over the structure. The alternative proposed by the authors above suggest that both individual can modify existing institutions, and the institutions themselves can affect individual preferences. Habits of thought and behavior emerge as a fundamental category in understanding this alternative proposal.