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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. 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.
    3. Williamson, Oliver E, 1981. "The Modern Corporation: Origins, Evolution, Attributes," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1537-1568, December.
    4. Thorstein Veblen, 1898. "Why is Economics Not an Evolutionary Science?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 12(4), pages 373-397.
    5. Matthews, R C O, 1986. "The Economics of Institutions and the," Economic Journal, Royal Economic Society, vol. 96(384), pages 903-918, December.
    6. 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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    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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