Questions about Institutional economics

Short answers, pulled from the story.

When did the name institutional economics first appear in print?

The name institutional economics first appeared in print during the winter of 1919. Walton H. Hamilton published an article titled The Institutional Approach to Economic Theory within the pages of the American Economic Review.

What year did Thorstein Veblen publish The Theory of the Leisure Class?

Thorstein Veblen wrote his most famous book while he was still a professor at the University of Chicago and it arrived in 1899. The Theory of the Leisure Class immediately challenged the prevailing view of consumer behavior by introducing the concept of conspicuous consumption.

Who published The Modern Corporation and Private Property in 1932?

Adolf A. Berle and Gardiner C. Means published The Modern Corporation and Private Property in 1932. Their work detailed how big businesses had evolved beyond the control of their original owners with directors controlling operations while stockholders remained distant.

In what year did John Kenneth Galbraith write The Affluent Society?

John Kenneth Galbraith wrote The Affluent Society in 1958 to critique orthodox economic ideas. He argued that voters reaching a certain level of material wealth began voting against the common good through a phenomenon he called the dependence effect.

When did Ronald Coase publish The New Institutional Economics?

Ronald Coase published The New Institutional Economics in 1998 to outline the shift toward new institutional economics. This approach incorporated developments in transaction cost theory and property rights analysis to explain how institutions reduced uncertainty in human interactions.