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Institutional economics, known by some as institutionalist political economy, focuses on understanding the role of human-made institutions in shaping economic behaviour. The institutional economists were typically critical of American social, financial and business institutions. What is now called new institutional economics, is a very different creature politically, but still focuses on the role of institutions in reducing transaction costs. Heterodox institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions (e.g. individuals, firms, states, social norms). Law and economics has been a major theme since the publication of the Legal Foundation of Capitalism by John R. Commons in 1924. Behavioral economics is another hallmark of institutional economics based on what is known about psychology and cognitive science, rather than simple assumptions of economic behavior. From Wikipedia under the
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 www1.worldbank.org 146px x 100px | 26.70kB [source page] lifelong learning allows people to prosper This book is a roadmap for policymakers who wish to know more about the key issues and challenges of education in a knowledge economy The Institutional Economics of Foreign Aid by Bertin Martens with Uwe Mummert Peter Murrell and Paul Seabright Cambridge University Press 2003 This book deals with  booksall.net 160px x 104px | 5.50kB [source page] Building a Trustworthy State in Post Socialist Transition Political Evolution and Institutional Change Palgrave Macmillan From Yahoo Image Search: "Institutional Economics" |
