This paper explores Lawrence Kelso Frank's contribution to the evolution of the so called Veblenian dichotomy. According to this apprach, peculiar to the institutional framework of every economic system is an absolute and irreconcilable tension between the dynamic and progressive force of...

This paper explores the evolution of the psychological foundation of institutional economics between the early XXc and the 1940s. The first part deals with the rise and fall of instinct psychology. Inspired by Veblen's taxonomy of instinctive behavior, several American economists attempted to...