EXPLORING THE FOUNDATIONS OF CONSUMPTION THEORY OF INSTITUTIONAL ECONOMICS: A VIEW ON VEBLEN'S IDEAS

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MASHHADIAHMAD MAHMOUD

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Journal Paper

Paper Information

Journal: Journal of Economic Studies and Policies Year:2013 | Volume:9 (19) | Issue:1 (96) Page(s): 157-186

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Information Journal Paper

Title

EXPLORING THE FOUNDATIONS OF CONSUMPTION THEORY OF INSTITUTIONAL ECONOMICS: A VIEW ON VEBLEN'S IDEAS

Author(s)

MASHHADIAHMAD MAHMOUD | Issue Writer Certificate

Keywords

INSTITUTIONAL ECONOMICSQ2

CONVENTIONAL ECONOMICSQ2

CONSUMPTIONQ2

UTILITYQ2

POVERTYQ2

VEBLENQ2

Abstract

Consumption is one of the most important issues in economics. According to this fact, the present paper is devoted to this topic. Indeed the main questions to be addressed are: what dimensions of reality is covered by conventional theory of CONSUMPTION? Which postulates are the main ones in this conventional theory? Has institutionalism presented a more comprehensive theory of CONSUMPTION? In other words, can INSTITUTIONAL ECONOMICS theory of CONSUMPTION, or more specifically, VEBLEN theory of CONSUMPTION, provide a better explanation of reality.In this paper we will demonstrate that, from early stages of its evolution, UTILITY theory of CONSUMPTION was encountered with serious challenges. This theory is based on some psychological principles that disconnected the connection between CONSUMPTION and other issues. In contrast, it will be demonstrated that the theory of INSTITUTIONAL ECONOMICS, which is based on VEBLEN theory of leisure class, do provide a better explanation of CONSUMPTION and some very related issues, such as POVERTY.

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APA: Copy

MASHHADIAHMAD, MAHMOUD. (2013). EXPLORING THE FOUNDATIONS OF CONSUMPTION THEORY OF INSTITUTIONAL ECONOMICS: A VIEW ON VEBLEN'S IDEAS. JOURNAL OF ECONOMIC STUDIES AND POLICIES, 9 (19)(1 (96)), 157-186. SID. https://sid.ir/paper/219047/en

Vancouver: Copy

MASHHADIAHMAD MAHMOUD. EXPLORING THE FOUNDATIONS OF CONSUMPTION THEORY OF INSTITUTIONAL ECONOMICS: A VIEW ON VEBLEN'S IDEAS. JOURNAL OF ECONOMIC STUDIES AND POLICIES[Internet]. 2013;9 (19)(1 (96)):157-186. Available from: https://sid.ir/paper/219047/en

IEEE: Copy

MAHMOUD MASHHADIAHMAD, “EXPLORING THE FOUNDATIONS OF CONSUMPTION THEORY OF INSTITUTIONAL ECONOMICS: A VIEW ON VEBLEN'S IDEAS,” JOURNAL OF ECONOMIC STUDIES AND POLICIES, vol. 9 (19), no. 1 (96), pp. 157–186, 2013, [Online]. Available: https://sid.ir/paper/219047/en

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