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According to the Institutionalist School, “a complex organism cannot be understood if each segment is treated...

According to the Institutionalist School, “a complex organism cannot be understood if each segment is treated as if it were unrelated to larger entity”. Explain whether this statement is supported or rejected by Chicago School

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“A complex organism cannot be understood if each segment is treated as if it were unrelated to larger entity”. As Economic activity is not merely the sum of the activities of persons motivated individually and mechanically by the desire of maximum monetary gain. In economic activity , there are also patterns of collective action that are greater than the sum of the parts.

As this statement of Institutionalist school is rejected by the Chicago school ( Neoclassical School).

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