Institutionalism: Characteristics and Its Evaluation
In this article we will discuss about features and evaluation of institutionalism. Characteristic Features of Institutionalism: The following are the main features of institutionalism: (1) The Institutional school emphasises the role of institutions in economic life. The term "institution" includes customs, social habits, laws, way of living, and mode of thinking. According to the Institutional school, economic life is regulated [...]