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What the new institutional economics owes Marx

Author

Listed:
  • Emmanuel S. de Dios

    (University of the Philippines)

Abstract

The bicentennial of Marx’s birth (2018) and the earlier sesquicentennial of Capital’s publication (2017) are opportunities to examine aspects of new institutional economics and incentive theory with an affinity to or origin in concepts first put forward by Marx. A major idea pertains to industrial organization and the theory of the firm. We compare Marxian and new-institutional insights and conversely attempt to interpret some of Marx’s ideas from a new-institutional viewpoint.

Suggested Citation

  • Emmanuel S. de Dios, 2019. "What the new institutional economics owes Marx," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 56(1 and 2), pages 257-278, June and .
    • Handle: RePEc:phs:prejrn:v:56:y:2019:i:1and2:p:257-278
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/988/886
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    More about this item

    Keywords

    institutions; Marxian economics; new institutional economics; employment relationship; transactions costs; theory of the firm;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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