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The Methodological Basis of Institutional Economics: Comment
Authors:Eugene Rotwein
Institution:Colorado State University
Abstract:This article highlights Simon Patten's contributions to the institutionalist method and view of abundance. It illustrates Patten's role in the cross-fertilization between early institutionalists and the German Historicists. Patten's views on the societal transition to abundance, the method of social inquiry, and the role of social scientists are re-examined in light of the current exigencies of a climate-constrained, post-industrial economy. The policy implications that emerge from Patten's rejection of the presumption of scarcity are examined in a contemporary context. The article suggests that the historical and evolutionary approach that Patten fostered among institutionalists is essential to the identification and implementation of the socio-economic reform requisite of an age of abundance.
Keywords:abundance  consumption habits  institutionalist method  sustainability  work time
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