This article explores how two different economic ideas, old institutional economics and feminist economics, challenge the commonly accepted neoclassical or mainstream economics. It looks at how philosophy plays a role in understanding economic events and issues. Mainstream economics has been criticized, leading some to focus on alternative viewpoints called heterodox economics. The study aims to investigate how old institutional economics and feminist economics offer different perspectives on economics. It dives into critiquing the current mainstream economic thought and explores these alternative economic concepts.