- 16 Apr 2009 01:16
#1873600
I'm not sure what you specifically mean, though in general an "institutionalist" is someone who believes that the moral outcome of a society is heavily dependent of the structure of various structures within it. In other words, the same basic human nature can lead to very different results depending on how the society is structured. Economic institutionalists believe that the outcome of an economy, similarly, is not written in stone by simple laws of supply, demand, utility and self-interest. Social institutions and cultural norms play a large role in the distribution and allocation of resources. John Kenneth Galbraith was one of the most famous institutionalist economists and he was also quite liberal, by the US political definition.
Einstein's Law of Political Relativity - All ideological reference frames are relative.