Bloomington School of Political Economy

The Bloomington School of Political Economy is a framework for understanding how institutions and social structures influence human behavior and decision-making. Developed at Indiana University, it emphasizes the role of individuals and their interactions within various governance systems. This school of thought focuses on the importance of local knowledge, voluntary cooperation, and how people navigate collective problems. In essence, it analyzes how individuals work together in different settings—like communities or organizations—to create rules, solve conflicts, and promote cooperation for mutual benefit.