Institutionalism Today
The earlier approach was a central element in American economics in the interwar years after 1919 but was marginalized to a relatively minor role as to mainstream economics in the postwar period with the ascendence of neoclassical and Keynesian approaches. It continued, however, as a leading heterodox approach in critiquing neoclassical economics and as an alternative research program in economics. The leading Swedish economist Lars Pålsson Syll is a believer in institutional economics. He is an outspoken opponent to all kinds of social constructivism and postmodern relativism.
Read more about this topic: Institutional Economics
Famous quotes containing the word today:
“The only questions worth asking today are whether humans are going to have any emotions tomorrow, and what the quality of life will be if the answer is no.”
—Lester Bangs (1948–1982)