Reconstructing the Ontological Perspective of the New Institutional Economics on the Basis of Oliver E. Williamson’s Hierarchical Model of Institutional Systems – An Attempt

Abstract :

This study represents an attempt to reconstruct the ontological perspective of the New Institutional Economics (NIE) on the basis of Oliver E. Williamson’s hierarchical model of institutional systems, and supported by elements of the ontological perspective postulated by Leszek Nowak as a specific set of basic statements. The reconstructed ontological perspective of NIE was then employed as basis for scientific analyses performed using the method of idealization and gradual solidification. The analytical findings served to reveal a strong correlation between individualism and holism as a property deeply embedded in the NIE. Apart from the theorygenic benefits, the study was also intended to reinforce and advertise the scientific achievements of the Polish anti-naturalist school of thought in social sciences.