Politická ekonomie 2007, 55(4):539-557 | DOI: 10.18267/j.polek.613

Za obzor neoklasické ekonomie: cesta k principům nové institucionální ekonomie

František Svoboda
Ekonomicko-správní fakulta, Masarykova univerzita, Brno.

Beyond the horizon of neoclassical economics: navigation to principles of the new institutional economics

This paper starts with discussion about enhanced and frequently used conceptions of free markets, market failures and market primacy. There are pointed some simplifications due to the man should be prospective while using them, especially in applied economics. We have no positive definition of a free market and it is not clear, how often and if any we can observe such market about us. Troubles with market failures are derived from different meanings in different schools of economic thought. The market primacy is an abstract concept more than historical fact. Because of such difficulties the paper is inscribed to institutional alternative which is able to evolve complex research of institutions and to involve useful aspects of neoclassical economics. Useful ground for this analysis is institutional individualism which defines program for research of institutional framework of economy.

Keywords: new institutional economics, free market, market failures, market primacy, neoclassical economics
JEL classification: B20, D02, D49

Published: August 1, 2007  Show citation

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Svoboda, F. (2007). Beyond the horizon of neoclassical economics: navigation to principles of the new institutional economics. Politická ekonomie, 55(4), 539-557. doi: 10.18267/j.polek.613
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