Traditional institutionalism

neo institutional school

One of the schools of contemporary bourgeois economics. 65438+The further development of American institutional schools at the end of 2009 and the beginning of the 20th century.

The new institutional school was formed in the 1950s, and has been greatly developed since the 1960s. The main representatives are J.K. Galbraith and K.E. Bolding in the United States and G. Myrdal in Sweden. The new institutional school inherits the tradition of the institutional school and pays more attention to the practical problems of capitalism than the institutional school. The policy suggestions put forward are more specific, and the scope of policy objectives and value standards is much wider.

The traditional quantitative analysis of the new institutional school's criticism of orthodox economic theory has great limitations, ignoring the qualitative problems in the economy and the role of social, historical, political and cultural factors in social and economic life. They use institutional analysis or structural analysis to analyze power (analyzing the generation and distribution of "decision-making power"), interest groups (analyzing the status and relationship of various interest groups in society) and norms (analyzing the formation and change of people's motives and habits and their influence). For example, Galbraith's binary analysis. In view of the morbid and abnormal development of capitalism, they put forward "the liberation of faith" and established a new value criterion, that is, a new concept of economics based on individual independence and public goals. They emphasize changing the existing unequal distribution of power in capitalist countries. When they put forward suggestions to improve the current capitalist system, they paid special attention to the science education department and the legislature.