Institutionalism Today
The earlier approach was a central element in American economics in the interwar years after 1919 but was marginalized to a relatively minor role as to mainstream economics in the postwar period with the ascendence of neoclassical and Keynesian approaches. It continued, however, as a leading heterodox approach in critiquing neoclassical economics and as an alternative research program in economics. The leading Swedish economist Lars Pålsson Syll is a believer in institutional economics. He is an outspoken opponent to all kinds of social constructivism and postmodern relativism.
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Famous quotes containing the word today:
“This is Wall Street, and today is important. Because tomorrow, July 4th, I intended to make my first million dollars—an exciting day in a man’s life. The enterprise was slightly illegal.”
—Abraham Polonsky (b. 1910)