New Institutional Dimensions of Economics

Among economists the recognition of the importance of social and eco­ 1 nomic institutions has grown during the last ten years. Even be­ fore the more recent period, however, this trend of thought was 2 clearly noticeable. The origin and formation of institutions was one of the issues which, according to C. MENGER, should playa central 3 role in economics. Nevertheless, this tradition is not refle...