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Institutional Economics Needs Interdisciplinary Studies of Social Studies

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Institutional Economics Needs Interdisciplinary Studies of Social Studies
Author(s)Sugiura, Katsumi
AbstractIn this article, traditional society is discussed. If we interpret the present age from the viewpoint of the opposing ideologies of socialism and capitalism, we reach the conclusions that the Russian type of socialism should be rejected and that relying on capitalism is now impossible. However, we could observe modern history from a somewhat different viewpoint: the evolution of institutions. Karl Polanyi termed the present economy a “market society.” Here, social structure embraces strained and sometimes contradictory relations between market and non-market elements. We are now facing a society that is characterized by a mixed market and non-market structure.
IssueNo2
Pages257-264
ArticleAccess to Article
SourceJournal of Economic Issues
VolumeNo33
PubDateJune1999
ISBN_ISSN0021-3624
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