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The Economic Institutions of Capitalism

The Economic Institutions of Capitalism 528 Book Reviews taken and, significantly, one for which the institutional economist is admirably prepared. If the "80s approach" is to bear fruit, in short, it is likely to do so only with the active participation of readers of this journal. YNGVE RAMSTAD The author is Assistant Professor of Economics. University of Rhode Island. Kingston. Notes 1. Veblen's term was not employed by any symposium participant. See Thor­ stein Veblen, "Why is Economics Not an Evolutionary Science" in The Place of Science in Modern Civilization and Other Essays (New York: B. W. Huebsch, 1919), p. 74. 2. Karl Polyani, "Our Obsolete Market Mentality," in Primitive, Archaic and Modern Economies: Essays of Karl Polyani. ed. George Dalton (Boston: Beacon Press, 1969), pp. 59-77. THE ECONOMIC INSTITUTIONS OF CAPITALISM. By Oliver E. Williamson. New York: Free Press, 1985. Pp. xiv, 450. $27.95. The apologia for capitalism offered up by orthodox economists has undergone a remarkable transformation. Old fashioned apologists still sing the praises ofthe market, but in dwindling numbers and with fad­ ing fervor. As corporate mergers, tie-in sales, restrictive franchises, reci­ procity, price discrimination, exclusive dealing, and other expedients continue to reduce the scope of the competitive market and continue http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Issues Taylor & Francis

The Economic Institutions of Capitalism

Journal of Economic Issues , Volume 21 (1): 3 – Mar 1, 1987

The Economic Institutions of Capitalism

Journal of Economic Issues , Volume 21 (1): 3 – Mar 1, 1987

Abstract

528 Book Reviews taken and, significantly, one for which the institutional economist is admirably prepared. If the "80s approach" is to bear fruit, in short, it is likely to do so only with the active participation of readers of this journal. YNGVE RAMSTAD The author is Assistant Professor of Economics. University of Rhode Island. Kingston. Notes 1. Veblen's term was not employed by any symposium participant. See Thor­ stein Veblen, "Why is Economics Not an Evolutionary Science" in The Place of Science in Modern Civilization and Other Essays (New York: B. W. Huebsch, 1919), p. 74. 2. Karl Polyani, "Our Obsolete Market Mentality," in Primitive, Archaic and Modern Economies: Essays of Karl Polyani. ed. George Dalton (Boston: Beacon Press, 1969), pp. 59-77. THE ECONOMIC INSTITUTIONS OF CAPITALISM. By Oliver E. Williamson. New York: Free Press, 1985. Pp. xiv, 450. $27.95. The apologia for capitalism offered up by orthodox economists has undergone a remarkable transformation. Old fashioned apologists still sing the praises ofthe market, but in dwindling numbers and with fad­ ing fervor. As corporate mergers, tie-in sales, restrictive franchises, reci­ procity, price discrimination, exclusive dealing, and other expedients continue to reduce the scope of the competitive market and continue

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Publisher
Taylor & Francis
Copyright
© 1986 by Journal of Economic Issues–Association for Evolutionary Economics.
ISSN
1946-326X
eISSN
0021-3624
DOI
10.1080/00213624.1987.11504638
Publisher site
See Article on Publisher Site

Abstract

528 Book Reviews taken and, significantly, one for which the institutional economist is admirably prepared. If the "80s approach" is to bear fruit, in short, it is likely to do so only with the active participation of readers of this journal. YNGVE RAMSTAD The author is Assistant Professor of Economics. University of Rhode Island. Kingston. Notes 1. Veblen's term was not employed by any symposium participant. See Thor­ stein Veblen, "Why is Economics Not an Evolutionary Science" in The Place of Science in Modern Civilization and Other Essays (New York: B. W. Huebsch, 1919), p. 74. 2. Karl Polyani, "Our Obsolete Market Mentality," in Primitive, Archaic and Modern Economies: Essays of Karl Polyani. ed. George Dalton (Boston: Beacon Press, 1969), pp. 59-77. THE ECONOMIC INSTITUTIONS OF CAPITALISM. By Oliver E. Williamson. New York: Free Press, 1985. Pp. xiv, 450. $27.95. The apologia for capitalism offered up by orthodox economists has undergone a remarkable transformation. Old fashioned apologists still sing the praises ofthe market, but in dwindling numbers and with fad­ ing fervor. As corporate mergers, tie-in sales, restrictive franchises, reci­ procity, price discrimination, exclusive dealing, and other expedients continue to reduce the scope of the competitive market and continue

Journal

Journal of Economic IssuesTaylor & Francis

Published: Mar 1, 1987

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