Coments about the Institutionalist Economy focus

Abstract

The purpose of this article is to provide a general view of the insitutionalist economy, hoping to enphasize some of its main benefi ts when studying the economic processes. To make clear these benefi ts, some of the debilities of the neoclassic economic view are briefely exposed in the last part. For example a total disregard of its own premises of implicit value. In conclusion, the virtues of the institucionalist view consist of offering a broader perspective of the social system, more plausible than the equilibrium one – circular accumulative causation –, a cautious treatment of the quantitative analysis and its recognition of the inevitability of the valuation on the scientifi c analysis. Furthermore, it offers a whole and integrator view of the study.