Institutionalist political economy
From Wikipedia, the free encyclopedia
Institutional political economy refers to a body of political economic thought in distinction from institutional economics stemming from the works of Thorstein Veblen, John Commons, Wesley Mitchell, John Dewey and more recent political economists such as Geoffrey Hodgson, Jonathan Nitzan, Shimshon Bichler and Ha-Joon Chang.
Thinkers in Institutional political economy distinguish themselves from New Institutional economists who attempt to incorporate institutions and information into neoclassical economics. Instead, institutional political economists believe that economics cannot be separated from the political and social system within which it is embedded.
