Institutions in Economics The Old and the New Institutionalism

Rutherford, Malcolm

ISBN 10: 0521451892 / ISBN 13: 9780521451895

Published by Cambridge University Press, 1995

About this Item

Laminated cover, white background and black lettering. Very slight edge rubbing, with former owner's name blacked out inside front. ; Historical Perspectives On Modern Economics; Large 8vo 9" - 10" tall; 240 pages.

Seller Inventory # 60174

Bibliographic Details

• Title: Institutions in Economics The Old and the New Institutionalism
• Publisher: Cambridge University Press
• Publication Date: 1995
• Language: English
• ISBN 10: 0521451892
• ISBN 13: 9780521451895
• Binding: Hardcover
• Edition: Second Printing.
• Condition: Very Good+
• Dust Jacket Condition: No Dust Jacket As Issued

About this title

Synopsis

This book examines and compares the two major traditions of thought that have attempted to incorporate institutions within economics. These are the "Old" (or American) Institutionalist tradition of Veblen, Mitchell, Commons and Ayres, and the "New" Institutionalism that has developed more recently from neoclassical and Austrian sources. The discussion is organized around a set of key problems involving the use of formal or nonformal analytical methods, individualist or holistic approaches, the respective roles of rational choice and rule following behavior, the relative importance of spontaneous evolution and deliberative design of institutions, and questions relating to the normative appraisal of institutions.

Book Description

This text examines and compares the "old" institutionalism of Veblen, Mitchell, Commons, and Ayres, and the "new" institutionalism developed more recently from neoclassical and Austrian sources, including the writings of Coase, Williamson, North, Schotter, and many others.