Another beef I have is defining what an institution actually is. Institutionalists in economics often start by defining them as the ‘rules of the game’, which is vague as it is, but then the term gets extended to mean ‘stuff’ in the empirical investigations of the impact of institutions.
Another beef I have is defining what an institution actually is. Institutionalists in economics often start by defining them as the ‘rules of the game’, which is vague as it is, but then the term gets extended to mean ‘stuff’ in the empirical investigations of the impact of institutions.