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This book deals with the institutionalist movement in American economics, a movement that was a significant part of American economics in the interwar period. This movement emphasized the importance of institutions, an empirical approach and the need for new forms of 'social control'.
This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.
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