Economics and institutions: a manifesto for a modern institutional economics

Abstract

PART 1 PRELUDE: Introduction and Outline On Methodology and Assumptions. PART 2 A FAREWELL TO `ECONOMIC MAN': Behind Methodological Individualism The Maximisation Hypothesis The Rationalist Conception of Action Action and Institutions. PART 3 ELEMENTS OF AN INSTITUTIONAL ECONOMICS: Contracts and Property Rights Markets as Institutions Firms and Markets Expectations and the Limits to Keynes Directions and Policy Implications.