The Reconstruction of Economics: An Analysis of the Fundamentals of Institutional Economics


"Allan Gruchy, the elder statesman of the institutionalist school of economic thought, has written a book which is important because it is both insightful and profound. Gruchy seeks to identify and to describe the essential unity of institutionalist economic thought. He finds the essence of institutionalism in the paradigmatic shift away from the old scientific paradigm of orthodox economics, which emphsizes static equilibrium, to the new scientific paradigm of institutionalist economics, which emphasizes dynamic process. . . . Gruchy cal; ls for a reconstruction of economics which is long overdue." Review of Social Economy

Additional information

Publisher: Place of publication:
  • New York
Publication year:
  • 1987


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