Convergence of Sociological and Economic Insights in Institutionalist Approach to Development

The purpose of this paper is to study the interaction and convergence of sociology and economic in institutional approach to development. It tries to present different dimensions of this conceptual apparatus in developments. The definition of organization is reviewed and Myrdal’s viewpoint about institutionalism is presented and then the development of this ideology is reviewed and in the end the application of considering this ideology is reviewed in economic developments. Most institutionalists believe that developments are systematic and highly dependent on Economic Analysis Tools and at the same time considers most issues beyond the economics as well. One of the most important conclusions made by the intuitionalists reveals that they believe doctrine of free market economy, even if all the methodological shortcomings are neglected, can only determine the most successful cases of development. The history shows that most economic-social units were dysfunctional and they cannot be explained using the explanatory model of conventional economics which is derived from the doctrine of Social Darwinism. So these intuitionalists try determine systematically the survival of these dysfunctional units. Accordingly, it can be said Institutionalists by using the interaction between sociological and economic approaches have explain Developmental and economic issues and thus they have offered comprehensive and systematic model to explan the development, particulary economic development.