The Tool Box of Institutional Analysis

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[1] Our subject - general economic history - has been since M. Weber shifting its subject and at the same time making great advance, both conceptually and empirically.

The conceptual advance is mainly due to a new tool box -- that of institutional analysis.

I will today briefly survey the chief tools and then proceed to the question what help they can be outside of economic history, primarily in the study of contemporary problem.

1. The economistic fallacy is the confused identification of the human economy with its market form.

Consequences:
(a) Restricting the economy to market phenomena.
(b) Extending criteria of market to all economy, (i.e. construing the economy as a supply-demand-price mechanism).

[…] Catallactic triad!!!

2. The two meanings of economic:

[2] … catallactics

Text Informations

Reference:
Lecture: Columbia University, New York - Outline and report, {1947-1953}
KPA: 31/01

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