"Institutional economics is a sociocultural discipline and policy science which draws on the idea that economies are best understood through an appreciation of history, real-world institutions, and socioeconomic interrelations. This book brings together leading institutionalists to examine the...

Chapter 1. Introduction to the English Edition -- Chapter 2. The Violence of Money (excerpt) -- Chapter 3. Enhancing the Political Economy of Money through History -- Chapter 4. Collective Introduction to La Monnaie souveraine -- Chapter 5. The Monetary Order of Market Economies -- chapter 6....

This collection of essays comprises some of Rudolf Richter’s important contributions to research on New Institutional Economics (NIE). It deals with the central idea, principles, and methodology of New Institutional Economics and explores its relation to sociology and law. Other chapters...

I discuss Aoki's fundamental model of institutions in its most recent version, building on a comment that Aoki contributed to a paper by Hindriks and Guala in 2015. These authors advance a ‘rules in equilibrium' approach to institutions that claims to reduce a Searlian social ontology of...

Institutionalism propounds a particular set of theoretical assumptions about the role of law in economic growth. In unpacking the development of those assumptions, this Essay adopts a model of intellectual history based on the Kuhnian argument that scientific knowledge evolves through key...

Ronald Coase merged two traditions in economics, marginalism and institutionalism. Neoclassical economics in the 1930s was characterized by an abstract conception of marginalism and frictionless resource movement. Marginal analysis did not seek to uncover the source of individual human...

How effective institutions come about and how they change are fundamental questions for economics and social science more generally. We show that these questions were central in the deliberations of lawyers in 17th century England, a critical historical juncture that has motivated important...