Institutions Matter! But Why?

The commentary defends the central idea of current institutional social research – that institutions are significant variables influencing the human action regarding the resource allocation. This idea was strongly opposed by the scientific board of the Czech economic faculty (institutionally oriented economic research was labeled as needless). The goal is to open the debate about this issue and ask the opponents to formulate concrete objections. Theoretical arguments and empirical examples are raised in favor of the institutional economics.