This introduction to institutional economics, follows the history of the field since the early 20th century until the present day. It concentrates on influential authors in the main schools of institutional economics.

Institutional economics is defined as economic thought that considers institutions to be relevant for economic theory, and consequently criticizes the neoclassical mainstream for having pushed them out of the discipline; it deals specially with the nature, the origin, the change of institutions, and their effects on economic performance. It is a family of...