This paper aims to show that pragmatism is the philosophical and methodological base for the institutional economics. It also demonstrates that institutional economists, based on pragmatism, where they take it as an approach, use the qualitative research method. Institutional economists, particularly, believe in pragmatism of Dewey and Pierce. According to the results of the analysis, made through this study, there are fundamental differences between the logical positivism, as a philosophical base for mainstream, and the pragmatism. The research method concluded from pragmatism is a qualitative one, which vs. quantitative research method. The quantitative research method in economics has arisen from logical positivism.
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