{"product_id":"the-reconstruction-of-economics-an-analysis-of-the-fundamentals-of-institutional-economics-hardcover","title":"The Reconstruction of Economics: An Analysis of the Fundamentals of Institutional Economics - Hardcover","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eAllan Garfield Gruchy\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eAllan Gruchy, the elder statesman of the institutionalist school of economic thought, has written a book which is important because it is both insightful and profound. Gruchy seeks to identify and to describe the essential unity of institutionalist economic thought. He finds the essence of institutionalism in the paradigmatic shift away from the old scientific paradigm of orthodox economics, which emphsizes static equilibrium, to the new scientific paradigm of institutionalist economics, which emphasizes dynamic process. . . . Gruchy calls for a reconstruction of economics which is long overdue. \u003ci\u003eReview of Social Economy\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThe interpretations and solutions generated by orthodox economics, with its emphasis on efficiency and personal market forces, have failed to satisfy many economists. An alternative framework has been developed in the past eight decades by institutional economists, who view the economic system not as a competitive equilibrium to be kept in balance but as an ongoing economic process through which the material needs of its human participants are to be met. Although insitutional economics represents a major and growing body of work, it has not always been clear how it differs from other approaches. In his new book, Allan Gruchy, considered the dean of institutional economics, addresses this problem. Pointing up the underlying unity of work done in this field, he provides a clear, basic statement of what it is all about and what intellectual and social currents have shaped it.\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eALLAN G. GRUCHY is Professor Emeritus of Economics at the University of Maryland.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 193\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.9 x 9.4 x 6.4 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e June 11, 1987\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":45333050163302,"sku":"9780313256790","price":194.2,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0599\/7255\/0758\/files\/cWNZNTdsVmd3ZzRKSWNMVEJqNWp2Zz09.webp?v=1774425010","url":"https:\/\/infinitylightwa.com\/products\/the-reconstruction-of-economics-an-analysis-of-the-fundamentals-of-institutional-economics-hardcover","provider":"Infinity Light","version":"1.0","type":"link"}