Comentarios sobre el enfoque de la Economía Institucional

Comments on the approach of Institutional Economics

Osmar Loaiza Quintero

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this paper is to offer a general overview of the institutionalist approach to economics, hoping to make clear some of its main advantages as a framework of study of the economic process. In doing so, a brief exposition about some of the weaknesses of neoclassical economics will be performed in latter sections of the article -being one of them the ignorance of its own implicit value premises. The paper concludes that the advantages of the institutionalist framework are anchored on the fact that it offers a broader perspective about the social system, a more plausible hypothesis than the equilibrium one about the functioning of the social system -the cumulative circular causation-, a cautious treatment of quantitative analysis, and the recognition of the impossibility to avoid value premises in scientific analysis.

Keywords: Institutional economics; Gunnar Myrdal; value premises; economic methodology; transdisciplinary (search for similar items in EconPapers)
JEL-codes: A12 B40 B52 (search for similar items in EconPapers)
Date: 2007-10-10
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/14047/1/MPRA_paper_14047.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:14047

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().