A Riggsian critique of New Institutional Economics

This dissertation is a critique of New Institutional Economics which is based on Riggsian approach. The implicit hypothesis of the dissertation is to analyze whether the paradigm of New Institutional Economics is valid in Riggsian prismatic societies. In order to outline the general framework of the area under discussion, Chapter One especially emphasizes the origins and theoretical structures of the Old and New Institutional Economics. Second Chapter analyzes the Neoclassical and New Institutionalist Economics within the boundaries of the three main areas of economics. In the Third Chapter, the prismatic society?s model of Fred W. Riggs which is developed by him in order to analyze the socio-economic problems of developing countries is described. New Institutional Economics has been analyzed and criticized by Riggsian point of view in the Fourth Chapter. The study reaches the conclusion that paradigm of New Institutional Economics has a limited applicability in prismatic societies within the construction of early approach of Riggs.Keywords: Institutional Economics, New Institutional Economics Riggs, Prismatic Societies.