Explain why the Institutionalists’ stress on the role of ‘institutions’ in economics decision making added elements of ‘realism’ to economic analysis. Use the opinion of John Kenneth Galbraith in his ‘dependence effect theory’ to support your argument.
Explain why the Institutionalists’ stress on the role of ‘institutions’ in economics decision making added elements of ‘realism’ to economic analysis. Use the opinion of John Kenneth Galbraith in his ‘dependence effect theory’ to support your argument.
Chapter20: Building Theories To Explain Everyday Life: From Observations To Questions To Theories To Predictions
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Explain why the Institutionalists’ stress on the role of ‘institutions’ in economics decision making added elements of ‘realism’ to economic analysis. Use the opinion of John Kenneth Galbraith in his ‘dependence effect theory’ to support your argument.
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