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What is New institutional economics? Discuss (a) the intellectual environment in which it was born, (b) its theoretical and historical significance (why it matters?), (c)

What is New institutional economics?

Discuss

(a) the intellectual environment in which it was born, (b) its theoretical and historical significance (why it matters?), (c) its most important members and their thought, and (d) its effects on subsequent economic thought.

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