Publication

This paper makes the case for New Institutional Economics (NIE) which, according to the author, is often either rejected as a hybrid concept that lumps together incompatible competing assumptions or it is championed and selectively instrumentalized as convenient catch-it-all ad-hocery. It argues that NIE is, in fact, a very valuable concept that goes beyond the myopic and overly restrictive methodological framework that informs much of current applied neoclassical analysis and reopens orthodox economic thinking to sociological reasoning and paves the way for an interesting cross-fertilization between these long-alienated disciplines.