Nirmal Sengupta. A New Institutional Theory of Production: An Application. New Delhi: Sage Publications, 2001. Hardbound. Indian Rs 495.00.

Abstract

Human interactive behaviour is determined by certain norms and accepted codes of conduct at all levels of social contact. These rules of behaviour define the parameters of social institutions such as marriage and family. However, behavioural patterns hold importance not only at personal levels but also in the life of a community or society. Resultantly, we observe the evolution of institutions in all spheres of economic and social significance. Due to their complexity and intricacy, institutions have found the interest of all social scientists, each analysing it under his/her own respective microscope.