Criticism of the fundamental classical postulates is the main focus of attention of the institutional theory. In their works, a number of representatives of the institutionalism have expresses their strong disagreement with the hedonistic principles of profit and loss as being the primary...

The institutional theory is, to a great extent, filled with criticism of the main classical postulates. Many institutionalists question in their works the hedonistic principle of profit and loss as a main motivating factor for human behavior. The main classical concepts result from relatively...

ROUND TABLE DISCUSSION “CHALLENGES TO ECONOMIC THOUGH IN THE NEW CENTURY”: Discussion