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Economic theory and institutions

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  • Pasinetti, Luigi L.

Abstract

Economic theory and institutional approaches lack a close connection. Efforts to develop an analysis of institutions within a neo-classical framework have shown serious limitations. A stronger relationship could be developed with classical and post-Keynesian economics, that provides the conditions for developing a unified theoretical framework in which to place the economic analysis of social institutions.

Suggested Citation

  • Pasinetti, Luigi L., 2021. "Economic theory and institutions," Structural Change and Economic Dynamics, Elsevier, vol. 56(C), pages 438-442.
    • Handle: RePEc:eee:streco:v:56:y:2021:i:c:p:438-442
    DOI: 10.1016/j.strueco.2019.12.005
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    References listed on IDEAS

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    1. Pasinetti,Luigi, 1993. "Structural Economic Dynamics," Cambridge Books, Cambridge University Press, number 9780521432825, January.
    2. Williamson, Oliver E, 1981. "The Modern Corporation: Origins, Evolution, Attributes," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1537-1568, December.
    3. Veblen, Thorstein, 1898. "Why Economics is not an Evolutionary Science," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 12.
    4. Matthews, R C O, 1986. "The Economics of Institutions and the," Economic Journal, Royal Economic Society, vol. 96(384), pages 903-918, December.
    5. William Dugger, 1990. "The New Institutionalism: New But Not Institutionalist," Journal of Economic Issues, Taylor & Francis Journals, vol. 24(2), pages 423-431, June.
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    Cited by:

    1. Bianchi, Patrizio & Labory, Sandrine, 2022. "Dynamic gravitation and structural dynamics: From Smith to Modern theory," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 90-98.
    2. Kurose, Kazuhiro, 2021. "Models of structural change and Kaldor’s facts: Critical survey from the Cambridge Keynesian perspective," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 267-277.

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