Political Science · Comparative Political Analysis
Which economist and sociologist is considered the father of the institutional approach?
AJames Bryce
BLowell
CThorstein Veblen ✓ Correct
DOstrogorski
Correct answer: (C) Thorstein Veblen — Thorstein Veblen is considered the father of the institutional approach.
Explanation
★Thorstein Veblen is considered the father of the institutional approach.
★He was an economist and sociologist who stressed institutions.
★He studied how customs and habits shape economic life.
★His institutional economics influenced political analysis.
★Bryce, Lowell and Ostrogorski belong to the older institutional study.
★They described formal institutions in a more traditional way.
★So the father of the institutional approach is Thorstein Veblen.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in