In economic terms, the explanation of the theory of development is identified with the approach of thinking that is classified into three main streams: classical, neoclassical and Keynesian. In its first version some of its most significant representatives are: Adam Smith, David Ricardo, Thomas Malthus, John Stuart Mill and Karl Marx. However, studies in contemporary neo-institutional economic theory rejects the theoretical abstraction of neoclassical and marginalist exacerbating individualism, appearing insensitive to the social component of the economy. Criticizes the concept of "general equilibrium" and exclusion that makes the other social sciences in the economic analysis. In contrast proposes a more dynamic and closer to the real economy where the interdisciplinary approach allows to consider political, sociological and historical arguments to explain the development conception. Thus, for the purpose of this article will make a brief tour of the various strands of new institutionalism: historical, sociological, political and economic science, with emphasis on the basic categories: institutional change, transaction costs and property rights.
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