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  3. Institutional Economics Revisited
  • Cited by 33
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    • Publisher:
      Cambridge University Press
      Publication date:
      13 May 2010
      29 April 1993
      ISBN:
      9780511599057
      9780521599726
      DOI:
      https://doi.org/10.1017/CBO9780511599057
      Dimensions:
      Weight & Pages:
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.485kg, 220 Pages
      • Subjects:
      Economics, Economic Thought, Philosophy and Methodology, Economic Theory
      Series:
      Raffaele Mattioli Lectures
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    Subjects:
    Economics, Economic Thought, Philosophy and Methodology, Economic Theory
    Series:
    Raffaele Mattioli Lectures
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    Book description

    Shigeto Tsuru is one of Japan's most respected senior economists. In these lectures, he provides a reappraisal of institutionalism as a school of thought and discusses its relevance for the issues which the economic profession today must tackle. Tsuru reconsiders Marxian political economy as an 'institutionalist school', which provides a context for the following discussion of J. M. Keynes, Joseph Schumpeter and Thorstein Veblen. He goes on to present the four key elements of modern institutionalism - i.e., the open-system character of the economy; the problem of planning; the evolutionary process of modern economics; and the normative character of economics - by way of an examination of three present-day institutionalists, Gunnar Myrdal, John K. Galbraith, and K. William Kapp. Tsuru concludes with an evaluation of modern institutionalism and the future of institutional economics.

    Reviews

    "...a useful and at times provocative characterization and assessment of institutional economics." Journal of Economic Literature

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