Institutional Economics: Perspectives and Methods in Pursuit of a Better World

Institutional economics is a sociocultural discipline and policy science that examines economies through the appreciation of history, real-world institutions, and socioeconomic interrelations. This book brings together leading institutionalists to explore essential perspectives and methods, including public policy analysis, myth-busting, historically grounded narratives, and computer-based simulations. It provides economists with new research opportunities, students with a real-world perspective, and policymakers and social scientists with compelling reasons to engage with the institutionalist tradition.

Format: Paperback / softback
Length: 302 pages
Publication date: 28 October 2021
Publisher: Taylor & Francis Ltd

Institutional economics is a multifaceted and interdisciplinary field that combines sociocultural analysis with policy science to gain a deeper understanding of economies. It recognizes the importance of historical context, real-world institutions, and the intricate socioeconomic interactions that shape economic systems. This comprehensive book brings together renowned institutionalists from various perspectives to explore the core principles, methodologies, and applications of this school of thought.

The contributors to the book draw upon a rich tapestry of institutional ideas, ranging from the classical works of Thorstein Veblen, John R. Commons, and Karl Polanyi to the more contemporary viewpoints of post-Keynesian institutionalism, feminist institutionalism, and environmental institutionalism. These diverse perspectives offer a comprehensive examination of institutional structures, processes, and outcomes.

The methods employed in this book span a wide spectrum, from frameworks used to analyze public policy and institutional change to analytical approaches such as myth-busting, historically grounded narratives, and computer-based simulations. Each chapter provides a thorough survey of a particular viewpoint, framework, or mode of analysis, exploring its origins, development, key features, applications, and potential frontiers.

A critical aspect of the book is its balanced treatment of strengths and weaknesses within each perspective. It emphasizes the importance of considering the complexities and interdependencies of economic systems, recognizing the role of institutions as both drivers and constraints of change. Core institutionalist concepts such as technology, institutions, culture, and complexity are woven throughout the chapters, providing a solid foundation for understanding economic phenomena.

This book serves as a valuable resource for economists seeking new research directions, students seeking a more practical and relevant understanding of economics, and policymakers and social scientists interested in engaging further with the institutionalist tradition. It offers insightful perspectives, practical methodologies, and compelling arguments that can contribute to a more informed and effective approach to economic analysis and policy-making.

Weight: 482g
Dimension: 153 x 234 x 35 (mm)
ISBN-13: 9780367749507