Penetration of pragmatism in institutional economics

Abstract

This paper aims to show that pragmatism is the philosophical andmethodological base for the institutional economics. It alsodemonstrates that institutional economists, based on pragmatism,where they take it as an approach, use the qualitative researchmethod. Institutional economists, particularly, believe in pragmatismof Dewey and Pierce. According to the results of the analysis, madethrough this study, there are fundamental differences between thelogical positivism, as a philosophical base for mainstream, and thepragmatism. The research method concluded from pragmatism is aqualitative one, which vs. quantitative research method. Thequantitative research method in economics has arisen from logicalpositivism.

Keywords

• mainstream economics
• institutional economics
• positivism
• pragmatism
• research method