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Galbraith's work was part of post-Keynesian economics with an emphasis on?

  • Laissez-faire

  • Institutionalism

  • Utilitarianism

  • Conservatism

Answer

Institutionalism emphasizes the role of social, political, and cultural institutions in shaping economic behavior and outcomes. Galbraith argued that these institutions, rather than purely market forces, play a crucial role in determining economic performance and distribution of income. He believed that understanding the institutional context is essential for developing effective economic policies.
The Galbraithian Quest: Uncovering the Legacy of John Kenneth Galbraith

The Galbraithian Quest: Uncovering the Legacy of John Kenneth Galbraith

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