The Instrumental Efficiency of Social Value Theory
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Institutional economics is well recognized as a heterodox body of thought. From this, it often is concluded that the system consists largely or completely of dissent from mainstream theory.1 Irrespective of the stance taken on this matter, it correctly is surmised that a group of economists thus engaged in critical inquiry will from time to time experience internal differences. Although institutional economics contains a central core of ideas, differences in interpretation and analysis exist.
KeywordsInstitutional Economic Case Study Approach Causal Reasoning Mainstream Economic Cultural Bias
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