Weekly essay 8. Institutional economics verses neoclassical economics. (Essay Sample)
Contrast the ideas of institutional (Veblenian) economics and neoclassical economics.
Each weekly writing must be at least 500 words and should have at least one reference that
justifies the comments made in the weekly writing.
Please be careful with the plagiarize rate, it has to be below 20%
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Institutional economics verses neoclassical economics.
Institutional economics emphasizes on the continued growth process and function of an institution in improving economic growth. It is also known as Veblenian economics. Neoclassical economics is an extensive view theory that majors on supply and want as a stimulating factor (Warren, 130). It’s mainly focuses on the cost of production, customer views, and the difference between production costs and sells prices. Critically analysing the institutional and neoclassical economics, there are some similarities and differences since there are different schools with different perceptions.
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