Metaphors and Analogies in Institutional Economic Theory

Frolov, Daniil and Lavrentyeva, Anna (2014): Metaphors and Analogies in Institutional Economic Theory.

Abstract

The article presents the critical review of physical and biological metaphors in the institutional economic theory. It is proved that physical (including mechanistic) analogies are most adequate for the associative characteristic of a statics and kinetics of institutional systems, and biological – for the figurative description of their evolution. Efficiency of use of metaphors and analogies from the most developed, vanguard areas of natural-science researches is shown.

• Item Type: MPRA Paper
• Language: English
• Keywords: metaphors, institutionalism, institutions, path dependence, vacuum, field, impurities, niche construction, transplantation, genetics, evolution
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary

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