What Is Institutionalism? How Does It Affect You As A Person

What is institutionalism? how does it affect you as a person

 

Answer:

What is institutionalism?

Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior. Its original focus lay in Thorstein Veblens instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other.

how does it affect you as a person ?

Institutions strongly affect the economic development of countries and act in society at all levels by determining the frameworks in which economic exchange occurs. They determine the volume of interactions available, the benefits from economic exchange and the form which they can take

Explanation:

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