Journal of Economic Perspectives: Vol. 15 No. 3 (Summer 2001)


Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter


JEP - All Issues

Institutional Economics: Then and Now

Article Citation

Rutherford, Malcolm. 2001. "Institutional Economics: Then and Now." Journal of Economic Perspectives, 15(3): 173-194.

DOI: 10.1257/jep.15.3.173


This article gives a history of American institutionalism, and a brief comparison with the more recent "new" institutional economics. Institutionalism was a significant element in American economics between the Wars, but declined rapidly thereafter. The article outlines the movement's initial appeal, its contributions, and the reasons for its decline. Although the "new" institutionalism has few direct ties to the older tradition, some interesting commonalities are found and discussed. Links to the "new institutionalism" in sociology and political science, and to historical work on other "institutional" traditions are also mentioned.

Article Full-Text Access

Full-text Article (Complimentary)


Rutherford, Malcolm (U Victoria)

JEL Classifications

B52: Current Heterodox Approaches: Institutional; Evolutionary
B25: History of Thought since 1925: Historical; Institutional; Evolutionary; Austrian


View Comments on This Article (0) | Login to post a comment

Journal of Economic Perspectives

Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)


JEP - All Issues

Virtual Field Journals

AEA Member Login:

AEAweb | AEA Journals | Contact Us