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2010•Journal of Beijing University of TechnologyRequires access

The Study on Institutional Economics Should Not Forget Marx:Exploration on the Economic Thought of Institutions in Marx's Capital

Mingyou Wang

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Abstract

Countering the tendency of institutional economics fever and the marginalization of Marxist economics,this article reframes Marx' s thought of economic institutions based on Capital' s original content.By comparing them to main views and methodology of new institutional economics,this paper points out Marx' s Capital is a classic of institutional analysis and emphasizes that the development of Chinese economics desiderates to draw the nutrition of Marx's economic thought of institutions.

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Countering the tendency of institutional economics fever and the marginalization of Marxist economics,this article reframes Marx' s thought of economic institutions based on Capital' s original content.By comparing them to main views and methodology of new institutional economics,this paper points out Marx' s Capital is a classic of institutional analysis and emphasizes that the development of Chinese economics desiderates to draw the nutrition of Marx's economic thought of institutions.

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Available abstract

Countering the tendency of institutional economics fever and the marginalization of Marxist economics,this article reframes Marx' s thought of economic institutions based on Capital' s original content.By comparing them to main views and methodology of new institutional economics,this paper points out Marx' s Capital is a classic of institutional analysis and emphasizes that the development of Chinese economics desiderates to draw the nutrition of Marx's economic thought of institutions.

Key concepts: Marxist philosophy, Capital (architecture), Neoclassical economics, Institutional economics, Economics, New institutional economics, Schools of economic thought, Positive economics

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