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Institutionalist political economy

Index Institutionalist political economy

Institutionalist political economy, also known as institutional political economy or IPE, refers to a body of political economy thought stemming from the works of Thorstein Veblen, John Commons, Wesley Mitchell, John Dewey which emphasizes the impact of historical and socio-political factors on the evolution of economic practices. [1]

13 relations: Capitalism, Constitutional economics, Economics, Institution, Institutional economics, John Dewey, John R. Commons, Laissez-faire, Neoliberalism, New institutional economics, Political economy, Thorstein Veblen, Wesley Clair Mitchell.

Capitalism

Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Constitutional economics

Constitutional economics is a research program in economics and constitutionalism that has been described as explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents".

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Institution

Institutions are "stable, valued, recurring patterns of behavior".

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Institutional economics

Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour.

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John Dewey

John Dewey (October 20, 1859 – June 1, 1952) was an American philosopher, psychologist, Georgist, and educational reformer whose ideas have been influential in education and social reform.

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John R. Commons

John Rogers Commons (October 13, 1862 – May 11, 1945) was an American institutional economist, Georgist, progressive and labor historian at the University of Wisconsin–Madison.

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Laissez-faire

Laissez-faire (from) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.

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Neoliberalism

Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.

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New institutional economics

New institutional economics (NIE) is an economic perspective that attempts to extend economics by focusing on the social and legal norms and rules (which are institutions) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics.

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Political economy

Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth.

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Thorstein Veblen

Thorstein Bunde Veblen (born Torsten Bunde Veblen; July 30, 1857 – August 3, 1929), a Norwegian-American economist and sociologist, became famous as a witty critic of capitalism.

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Wesley Clair Mitchell

Wesley Clair Mitchell (August 5, 1874 – October 29, 1948) was an American economist known for his empirical work on business cycles and for guiding the National Bureau of Economic Research in its first decades.

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Redirects here:

Institutionalist Political Economics.

References

[1] https://en.wikipedia.org/wiki/Institutionalist_political_economy

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