Neo-Institutionalist Economics is a school of developmental thinking that purports to explain the history, existence, and functions of a wide range of institutions (whether government, the law, markets, the family, and so on) according to the assumptions of the neo-liberal economic theory. In that sense, neo-institutionalism represents a variant of the neo-liberal orthodoxy that is ascendant within governments, international development agencies, policy think tanks, and increasingly large section of the social science community.
Famous quotes containing the word economics:
“The new sound-sphere is global. It ripples at great speed across languages, ideologies, frontiers and races.... The economics of this musical esperanto is staggering. Rock and pop breed concentric worlds of fashion, setting and life-style. Popular music has brought with it sociologies of private and public manner, of group solidarity. The politics of Eden come loud.”
—George Steiner (b. 1929)