The institutional economy [Book] : demand and supply / David Reisman.

By:

Reisman, David A

Material type: Text

TextPublication details: Northampton, MA : Northampton, MA : Edward Elgar, c2002.Description: vi, 273 p. ; 24 cmISBN:

1840646748

Subject(s):

Institutional economics

DDC classification:

306.3 21

Other classification:

306.3

Summary: The institutional economy is the economy of rules and laws, conventions and precedents. It is prices but also practices, change but also constancy, individual but also interdependence. David Reisman argues that conformity and repetition as well as new initiatives and mould-breaking departures constitute the essence of supply and demand. This comprehensive text examines the role that institutions play in economic life. The discussion begins with common values, shared traditions and individual habits which have their roots in the past. It goes on to consider consumer preferences, needs and wants, altruism, malevolence, intrinsic motivation, organizational memory and the social capital that is embedded in networks and communities. Its conclusion is that there is a case for a broadly-based economics which is a science of norms and standards as well as a theory of prices and costs. Culture is continuity and patter, precisely the same is true of supply and demand.

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Holdings
Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Books	Junaid Zaidi Library, COMSATS University Islamabad	306.3 REI-I (Browse shelf(Opens below))	Available		49483

Total holds: 0

Includes bibliographical references (p. 253-265) and index.

The institutional economy is the economy of rules and laws, conventions and precedents. It is prices but also practices, change but also constancy, individual but also interdependence. David Reisman argues that conformity and repetition as well as new initiatives and mould-breaking departures constitute the essence of supply and demand. This comprehensive text examines the role that institutions play in economic life. The discussion begins with common values, shared traditions and individual habits which have their roots in the past. It goes on to consider consumer preferences, needs and wants, altruism, malevolence, intrinsic motivation, organizational memory and the social capital that is embedded in networks and communities. Its conclusion is that there is a case for a broadly-based economics which is a science of norms and standards as well as a theory of prices and costs. Culture is continuity and patter, precisely the same is true of supply and demand.

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