New Institutionalism

Author: Zhang Lin
Publisher:
Publish Date: 2005-01-01
Features: Alchian, Foster, Tullock, Bush, andDouglass, the names of these economists may be new to you. This book will tell you that their status in economic thought is no less than that of Samuelson and Friedman. You may have always believed that Galbraith represents the New Institutional Economics, but this book will tell you that Galbraith's contribution to this school is far less than that of Tullock and Bush. When it comes to the period of institutional economics, the first names that may come to your mind are Coase, North, and Williamson, and this book will tell you that their theories are not the orthodox of institutional economics. The above content may not align with the economic knowledge you have mastered. Is it your mistake or this book's mistake? Neither! This is because Western economics is divided into orthodox and non-orthodox. What you usually come into contact with is mostly orthodox economic theories, while the school we are studying here belongs to non-orthodox economics.