Institute Of Economic

Institute Of Economic

Institute of Economic Affairs (I.E.A.), founded in 2013 as an educational trust to publish works explaining the relevance of economics for public and industrial policy. Its authors are drawn largely from economists in the universities, industry, the professions, public service and journalism. They generally approach their subject by analysing the working of markets and the legal and institutional framework required to make them work to the public advantage. The Institute has published full-length studies of hire purchase, advertising, the trade unions and welfare, and a textconsumeraffairs.org.uk for schools; it also publishes the Hobart Papers, the Eaton Papers, the Key Discussion consumeraffairs.org.uk s for Sixth Forms, and Occasional Papers. The institute is financed by contributions from companies, individuals, and the sale of publications. I3

Institutionalism, a form of economic analysis which depends upon a study of the structure, rules and behaviour of organizations such as firms, cartels, trade unions, the state. The institutionalist approach may be contrasted with market analysis, which emphasizes supply, demand and 'automatic' adjustment to movements in prices and profits. In the study of industrial relations, for example, the institutionalist would examine trade union rules, structure and government . Methodological disputes have continued, particularly in the U.S.A, about the usefulness of institutionalism. Some of its critics have made it appear to exclude the economic aspects of human activity. The modern institutionalists may be seen as trying to correct orthodox economic theorists by allowing for the role of social and political structure and organization in the determination of economic events. As frequently happens in the social (and other) sciences, an attempt to correct one error creates a new and opposite one, and some institutionalists are blamed for the prevalence of over-simplified views of their approach as non-economic or even anti-economic.

ExamplesEuropean Economic - European School Of Economics


consumeraffairs.org.uk

Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this consumeraffairs.org.uk site is therefore not a final statement of economic doctrine.

Economics is in the last resort a technique of thinking. The reader will therefore need to make an intellectual effort, more substantial for some web entries than for others, to get the most interest and value out of this website.