Institutional EconomicsJames I. SturgeonLabel: Polity PressDescription: Institutions are the controlling force at the center of any economy. They organize and control all economic activity from markets to producers consumers to governments and more. Institutions determine how fundamental economic questions such as what how and for whom are answered. Thus scientific analysis of economic activity requires a deep and systematic understanding of institutions. This much-needed text provides students with a comprehensive introduction to the increasingly influential field of Institutional economics. Across its ten chapters it unpacks the history theory applications policies and methods of Institutional economics carefully blending theoretical conceptual and empirical elements that together illuminate the complexity of the modern economy. Topics covered include production consumption class and distribution development value theory and specific institutions including the corporation property labor and government. Each chapter concludes with selected questions or issues posed as a basis for class discussion and further research. Written in a lively and accessible style for students new to the topic this book is set to become the go-to resource for classes on institutional economics across the world.
