Institutional Economics

What is Institutional Economics

Institutional economics is a branch of economics that focuses on understanding the function that institutions have in determining economic behavior as well as the impact that the evolutionary process plays. Thorstein Veblen's instinct-oriented divide between technology on the one hand and the “ceremonial” sphere of society on the other was the primary emphasis of the organization when it was first established. Both its name and its fundamental components may be traced back to an article written by Walton H. Hamilton in 1919 for the American Economic Review. The field of institutional economics places an emphasis on the study of institutions in a more comprehensive manner and considers markets to be the product of the intricate interplay between the many institutions. In the field of economics, the older school is still widely recognized as a prominent heterodox approach nowadays.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Institutional economics

Chapter 2: Neoclassical economics

Chapter 3: Thorstein Veblen

Chapter 4: Evolutionary economics

Chapter 5: The Theory of the Leisure Class

Chapter 6: New institutionalism

Chapter 7: Labour economics

Chapter 8: Wesley Clair Mitchell

Chapter 9: Heterodox economics

Chapter 10: Geoffrey Hodgson

Chapter 11: Historical institutionalism

Chapter 12: Herbert J. Davenport

Chapter 13: History of economic thought

Chapter 14: European Association for Evolutionary Political Economy

Chapter 15: Schools of economic thought

Chapter 16: Institutionalist political economy

Chapter 17: Vivien A. Schmidt

Chapter 18: Perspectives on capitalism by school of thought

Chapter 19: Association for Evolutionary Economics

Chapter 20: Transaction Man

Chapter 21: Veblen-Commons Award

(II) Answering the public top questions about institutional economics.

(III) Real world examples for the usage of institutional economics in many fields.

(IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of institutional economics. (eBook only).

Who will benefit

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of institutional economics.