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Constitutional Political Economy

, Volume 18, Issue 4, pp 223–241 | Cite as

Imagination and society. The affective side of institutions

  • Roberta PatalanoEmail author
Original Article

Abstract

Since the contributions by D. North [(1990). Institutions, institutional change, and economic performance. New York: CUP] and his Nobel Prize lecture [(1994). Economic performance through time, Nobel Prize Lecture. The American Economic Review, 84(3), 359–368], the relationship between mind and institutions has been increasingly investigated by economists. Mantzavinos, North, and Shariq [(2004). Learning, institutions, and economic performance. Perspectives on Politics, 2(1), 75–84] introduced the expression cognitive institutionalism in order to define this stream of research. In the first part of the paper we discuss some recent findings of the cognitive approach to institutions and its roots in the history of economic ideas. We also claim that in such an approach, no place has yet been found for a crucial faculty of the human mind, imagination. We then explore the concept of radical imaginary developed by Cornelius Castoriadis in his book The Imaginary Institution of Society (1975; 1987). From the perspective of cognitive economics, and on the grounds of Castoriadis’ legacy, we aim at highlighting some basic mechanisms of interaction between imagination, affectivity and institutions.

Keywords

Cognitive institutionalism Mind Institutions Imagination Emotions Change 

JEL Classifications

D02 D70 D83 K00 Z13 Z19 

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Copyright information

© Springer Science + Business Media, LLC 2007

Authors and Affiliations

  1. 1.Department of Economic StudiesUniversity of Naples “Parthenope”NaplesItaly

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