Cite JOURNAL ARTICLE
Institutionalismus, Neo-Institutionalismus, Neue Institutionelle Ökonomie und andere „Institutionalismen“
Eine Differenzierung konträrer Konzepte
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 114 (1994), Iss. 1 : pp. 5–23
Whereas the "New Institutional Economics" (NIE) is founded on the neoclassical theory, American Institutionalism developed on the basis of a fundamental criticism of neoclassical theory. In this respect all declarations of NIE as a further development of "old" institutional approaches must be rejected. In contrast to NIE American Institutionalists refer to the particular circumstances of power and the market and to the prevailing values and habits. Explanation is not the main concern but rather the answer to the question of how the institutional framework can be arranged so as to ensure that factors such as democracy, justice, participation are represented in the economy.