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Neoinstitutionalism: Still no intellectual hegemony?

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  • Colin Crouch

Abstract

Despite its greater realism, neoinstitutionalism has not been able to rival neoliberal approaches in the minds of many public‐policy communities. This article suggests four reasons why this is the case: the way that neoliberalism appears to be rooted in the strong paradigms of neoclassical economics, the related simple appeal of marketization as a solution to policy problems, the dominance of short‐term calculation in financial markets as the apparently most successful form of economic activity, and the role of corporate actors as public‐policy insiders. It is argued that an essential solution to the problem is a rapprochement between neoinstitutionalism and neoclassical economics, which is itself not necessarily wedded to neoliberalism.

Suggested Citation

  • Colin Crouch, 2007. "Neoinstitutionalism: Still no intellectual hegemony?," Regulation & Governance, John Wiley & Sons, vol. 1(3), pages 261-270, September.
    • Handle: RePEc:wly:reggov:v:1:y:2007:i:3:p:261-270
    DOI: 10.1111/j.1748-5991.2007.00015.x
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    1. Joseph E. Stiglitz, 1999. "More instruments and broader goals: moving toward the Post-Washington Consensus," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(1), pages 101-128.
    2. Schneider, Friedrich, 2002. "The Size and Development of the Shadow Economies of 22 Transition and 21 OECD Countries," IZA Discussion Papers 514, Institute of Labor Economics (IZA).
    3. A. B. Atkinson, 1999. "The Economic Consequences of Rolling Back the Welfare State," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011719, April.
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    1. Bohne, Eberhard, 2011. "Conflicts between national regulatory cultures and EU energy regulations," Utilities Policy, Elsevier, vol. 19(4), pages 255-269.

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