Abstract
Institutionalism went through a difficult historical path of its development, went through several stages, each of which was accompanied by the renewal of methodology and theoretical foundations. Consistently at each stage, a corresponding independent direction arose: old institutionalism, new institutionalism (new institutional economics) and neoinstitutionalism (neoinstitutional economics). Modern institutionalism is a qualitatively new direction of economic thought, based on the theoretical principles of economic analysis of the neoclassical school in terms of identifying trends in the development of the economy, as well as the methodological tools of the German historical school in the approach to the study of socio-psychological problems of the development of society.
Highlights
New institutional economics is one of the youngest currents of economic thought that has made significant strides in promoting their theoretical concepts, ideas and analytical tools
The majority of scientific journals devote a great deal of space to publications in the context of the theory of new institutional economics, which cannot be said about other currents of institutionalism [1]
If the first direction strengthens and expands the non-classical pair adigm, subordinating to it all new and new spheres of research, the second April comes to the full neglect of June neoclassicism, giving rise to institutional economics opposed to neoclassical "main str imu" [5]
Summary
New institutional economics is one of the youngest currents of economic thought that has made significant strides in promoting their theoretical concepts, ideas and analytical tools. The institution of the primitive class is the activity of the ruling elite, which emphasizes its privileged position with respect to the consumption Veblen studied this institute as contemporary anthropologists studied the customs of the African tribes. The explanation of the movement of economic benefits only by institutional factors did not find a large number of supporters This was partly due to the vagueness of the very concept of "institution", by which some researchers understood mainly customs, others - trade unions, still others - the state, fourth corporations - etc., etc. Traditional institutionalism was based mainly on the inductive method, trying to go from particular cases to generalizations, as a result of which the general institutional theory did not e developed; neoinstitutionalism proceeds deductively - from general principles of non-classical economic theory to the explanation of specific phenomena of public life (Table 1) [7]
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