Institutional Economics Revisited [Paperback]

This book reappraises institutionalism and discusses its relevance today.In these lectures Shigeto Tsuru reappraises institutionalism as a school of thought and discusses its relevance for the issues which face the economics profession today. He begins with a historical perspective by reconsidering Marx as an 'institutionalist', which provides a context for a discussion on Keynes, Schumpeter and Veblen. This is followed by an examination of modern institutionalsim through the work of Gunnar Myrdal, J K Galbraith and William Kapp. He concludes with an evaluation of the future of the institutionalist approach.In these lectures Shigeto Tsuru reappraises institutionalism as a school of thought and discusses its relevance for the issues which face the economics profession today. He begins with a historical perspective by reconsidering Marx as an 'institutionalist', which provides a context for a discussion on Keynes, Schumpeter and Veblen. This is followed by an examination of modern institutionalsim through the work of Gunnar Myrdal, J K Galbraith and William Kapp. He concludes with an evaluation of the future of the institutionalist approach.In these lectures Shigeto Tsuru reappraises institutionalism as a school of thought and discusses its relevance for the issues that face the economics profession today. He begins with a historical perspective by reconsidering Marx as an institutionalist, which provides a context for a discussion on Keynes, Schumpeter and Veblen. This is followed by an examination of modern institutionalism through the work of Gunnar Myrdal, J. K. Galbraith and William Kapp. He concludes with an evaluation of the future of the institutionalist approach.Preface; 1. Reappraisal of Marxian political economy as 'institutionalism' in the broad sense of the term; 2. The methodology of aggregates: Keynes vs Marx; 3. Marx vs Schumpeter on business cycles; 4 Institutional economics in America: Veblen; 5. Modern institutionalism; 6. The future of institutiol,