The Institutional Economy – Demand and Supply Reisman Hardback Edward Elgar

The Institutional EconomyDemand and Supply\nAuthor(s): David Reisman\nFormat: Hardback\nPublisher: Edward Elgar Publishing Ltd, United Kingdom\nImprint: Edward Elgar Publishing Ltd\nISBN-13: 9781840646740, 978-1840646740\nSynopsis\nThe institutional economy is the economy of rules and laws, conventions and precedents. It is prices but also practices, change but also constancy, individual but also interdependence. David Reisman argues that conformity and repetition as well as new initiatives and mould-breaking departures constitute the essence of supply and demand. This thorough and comprehensive book examines the role that institutions play in economic life. The discussion begins with common values, shared traditions and individual habits which have their roots in the past. It goes on to consider consumer preferences, needs and wants, altruism, malevolence, intrinsic motivation, organisational memory and the social capital that is embedded in networks and communities. Its conclusion .