Resumo

LOZANO, Jaime. INSTITUTIONAL ECONOMICS AND ECONOMIC SCIENCE. Rev.econ.inst. [online]. 1999, vol.1, n.1, pp. 99-128. ISSN 0124-5996.

This article presents a comparative analysis of the approaches of institutional economics and Walrasian economics. After reviewing the differences between both perspectives, it argues that institutional economics is an alternative, however incomplete, to general equilibrium economics. It compares the way both tendencies conceive the individual, knowledge, efficiency and the economic order, to point out the differences. Some methodological discussion derived from these differences are indicated.