Institutional Economics: Veblen, Commons, and Mitchell Reconsidered

Institutional economics, as explored in this collection of lectures, represents a distinctly American contribution to economic theory. Rooted in pragmatism and influenced by sociological jurisprudence, institutional economics diverges from classical economic theory by emphasizing the interplay of non-economic factors and the need for rigorous, data-driven analysis of economic phenomena. The approach prioritizes a comprehensive understanding of the facts and disregards traditional disciplina...