Quotes from Malcolm Rutherford

McMahon made use of Veblen's conception of emulation in consumption, whereas Kyrk adopted Mitchell's view that notions of rationality derived from business calculation of profit cannot be applied to households controlled by other standards (1923, p. 144).

The central components of the "institutional approach" outlined here – the adoption of a central focus on institutions, process, social control, new psychological foundations, and empirical and instrumental "scientific" investigation – serve as a reference point to identify the movement and its adherents.