Download or read book Institutions Economic Performance and the Visible Hand written by Ashok Chakravarti and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book represents an important next step in the new institutional economics. Using this perspective, it undertakes a thorough re-examination of the problems of development.' – Barry R. Weingast, Stanford University, US 'Institutions, Economic Performance and the Visible Hand is a wide ranging, well-written, and provocative contribution to the study of political and economic organization. Ashok Chakravarti advances arguments and interpretations that are both interesting and, often, controversial. Although I find myself "arguing" with many of them, this is one of the many virtues of the book. I recommend the book to others who have an interest in institutional economics – why it is important, where it has been, and where it is going.' – Oliver E. Williamson, Nobel Laureate in Economics, University of California, Berkeley, US 'This is an ambitious and wide-ranging book, which seeks to overthrow the minimalist view of the role of institutions in economic systems contained in the standard economic model, and instead advocates a more active institution-building effort to promote the development of poor countries. This important contribution is to review and consolidate the themes and issues that emerge from a very large literature on the subject of institutions and economic development, and to coherently formulate hypotheses relating institutions to economic performance. This should be useful to a wide range of scholars.' – John Toye, University of Oxford, UK This timely study convincingly argues that it is not resources but the institutions which govern the interaction and decision-making of economic and political agents, that are the key factor in determining the economic performance of nations. The book challenges the conventional wisdom on the determinants of economic performance and provides an alternative vision of the functioning of an economic system. The author provides a structured survey which critically evaluates the theory and evidence of neoclassical approaches to growth and development. He then skillfully integrates insights from the old and new institutional economics into an original and comprehensive vision of the relationship between institutions, growth and economic development. Institutions, Economic Performance and the Visible Hand will be of special interest to academics, financial analysts and commentators, staff of international development agencies and NGOs, researchers and post-graduate students.
Download or read book Regulating the Visible Hand written by Benjamin L. Liebman and published by Oxford University Press, USA. This book was released on 2016 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective.
Download or read book The Visible Hand written by Alfred D. Chandler Jr. and published by Harvard University Press. This book was released on 1993-01-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (from the 1850s until the 1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in American transportation, communications, and the central sectors of production and distribution.
Download or read book Institutions Institutional Change and Economic Performance written by Douglass C. North and published by Cambridge University Press. This book was released on 1990-10-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change. Douglass C. North is Director of the Center of Political Economy and Professor of Economics and History at Washington University in St. Louis. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. He has written over sixty articles for a variety of journals and is the author of The Rise of the Western World: A New Economic History (CUP, 1973, with R.P. Thomas) and Structure and Change in Economic History (Norton, 1981). Professor North is included in Great Economists Since Keynes edited by M. Blaug (CUP, 1988 paperback ed.)
Download or read book Institutions Institutional Change and Economic Performance written by Douglass C. North and published by Cambridge University Press. This book was released on 1990-10-26 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.
Download or read book The Invisible Hand in Economics written by N. Emrah Aydinonat and published by Routledge. This book was released on 2008 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 Introduction -- chapter 2 Unintended consequences -- chapter 3 The origin of money -- chapter 4 Segregation -- chapter 5 The invisible hand -- chapter 6 The origin of money reconsidered -- chapter 7 Models and representation -- chapter 8 Game theory and conventions -- chapter 9 Concluding remarks.
Download or read book Visible Hands Labor Institutions in the Economy written by Richard Freeman and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutions and Economic Performance written by Elhanan Helpman and published by Harvard University Press. This book was released on 2009-07-01 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutions and Economic Performance explores the question of why income per capita varies so greatly across countries. Even taking into account disparities in resources, including physical and human capital, large economic discrepancies remain across countries. Why are some societies but not others able to encourage investments in places, people, and productivity? The answer, the book argues, lies to a large extent in institutional differences across societies. Such institutions are wide-ranging and include formal constitutional arrangements, the role of economic and political elites, informal institutions that promote investment and knowledge transfer, and others. Two core themes run through the contributors’ essays. First, what constraints do institutions place on the power of the executive to prevent it from extorting the investments and effort of other people and institutions? Second, when are productive institutions self-enforcing? Institutions and Economic Performance is unique in its melding of economics, political science, history, and sociology to address its central question.
Download or read book The Invisible Hand written by John Eatwell and published by Springer. This book was released on 1989-11-01 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on the theory of the invisible hand.
Download or read book The Invisible Hand written by Bas van Bavel and published by Oxford University Press. This book was released on 2019-04-29 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Invisible Hand? offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the economies dominated by them — the market economies — are not modern, but have existed at various times in the past. They rise, stagnate, and decline; and consist of very different combinations of institutions embedded in very different societies. These market economies create flexibility and high mobility in the exchange of land, labour, and capital, and initially they generate economic growth, although they also build on existing social structures, as well as existing exchange and allocation systems. The dynamism that results from the rise of factor markets leads to the rise of new market elites who accumulate land and capital, and use wage labour extensively to make their wealth profitable. In the long term, this creates social polarization and a decline of average welfare. As these new elites gradually translate their economic wealth into political leverage, it also creates institutional sclerosis, and finally makes these markets stagnate or decline again. This process is analysed across the three major, pre-industrial examples of successful market economies in western Eurasia: Iraq in the early Middle Ages, Italy in the high Middle Ages, and the Low Countries in the late Middle Ages and the early modern period, and then parallels drawn to England and the United States in the modern period. These areas successively saw a rapid rise of factor markets and the associated dynamism, followed by stagnation, which enables an in-depth investigation of the causes and results of this process.
Download or read book Institutions Institutional Change and Economic Performance written by Douglass Cecil North and published by . This book was released on 1990 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change"--Provided by publisher.
Download or read book The Hand Behind the Invisible Hand written by Karl Mittermaier and published by Bristol University Press. This book was released on 2020-07-22 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that a government that governs least governs the best, from the viewpoint of society. Here an invisible hand appears to represent unfettered market forces. Drawing from this much-contested notion, Mittermaier indicates why such a view represents only one side of the story and distinguishes between what he calls pragmatic and dogmatic free marketeers. Published posthumously, with new contributions by Daniel Klein, Rod O’Donnell and Christopher Torr, this book outlines Mittermaier’s main thesis and his relevance for ongoing debates within economics, politics, sociology and philosophy.
Download or read book Regulating the Visible Hand written by Benjamin L. Liebman and published by Oxford University Press. This book was released on 2015-10-19 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic and geopolitical implications of China's rise have been the subject of vast commentary. However, the institutional implications of China's transformative development under state capitalism have not been examined extensively and comprehensively. Regulating the Visible Hand? The Institutional Implications of Chinese State Capitalism examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective. It first examines the domestic governance of Chinese state capitalism, looking at institutional design and regulatory policy in areas ranging from the environment and antitrust to corporate law and taxation. It then analyses the global consequences for the regulation of trade, investment and finance. Contributors address such questions as: What are the implications of state capitalism for China's domestic institutional trajectory? What are the global implications of Chinese state capitalism? What can be learned from a comparative analysis of state capitalism?
Download or read book Institutions and the Path to the Modern Economy written by Avner Greif and published by Cambridge University Press. This book was released on 2006-01-16 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
Download or read book Happiness and Economics written by Bruno S. Frey and published by Princeton University Press. This book was released on 2010-11-16 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Curiously, economists, whose discipline has much to do with human well-being, have shied away from factoring the study of happiness into their work. Happiness, they might say, is an ''unscientific'' concept. This is the first book to establish empirically the link between happiness and economics--and between happiness and democracy. Two respected economists, Bruno S. Frey and Alois Stutzer, integrate insights and findings from psychology, where attempts to measure quality of life are well-documented, as well as from sociology and political science. They demonstrate how micro- and macro-economic conditions in the form of income, unemployment, and inflation affect happiness. The research is centered on Switzerland, whose varying degrees of direct democracy from one canton to another, all within a single economy, allow for political effects to be isolated from economic effects. Not surprisingly, the authors confirm that unemployment and inflation nurture unhappiness. Their most striking revelation, however, is that the more developed the democratic institutions and the degree of local autonomy, the more satisfied people are with their lives. While such factors as rising income increase personal happiness only minimally, institutions that facilitate more individual involvement in politics (such as referendums) have a substantial effect. For countries such as the United States, where disillusionment with politics seems to be on the rise, such findings are especially significant. By applying econometrics to a real-world issue of general concern and yielding surprising results, Happiness and Economics promises to spark healthy debate over a wide range of the social sciences.
Download or read book Institutions and Economic Theory written by Eirik G. Furubotn and published by University of Michigan Press. This book was released on 2005-10-21 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE approach. Scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance. A useful glossary for students is included. Eirik Furubotn is Honorary Professor of Economics, Co-Director of the Center for New Institutional Economics, University of Saarland, Germany and Research Fellow, Private Enterprise Research Center, Texas A&M University. Rudolph Richter is Professor Emeritus of Economics and Director of the Center for New Institutional Economics, University of Saarland, Germany.
Download or read book Institutions and Economic Development written by Christopher Clague and published by . This book was released on 1997-06-10 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The premise of this text is that economic development and post-communist transitions can be illuminated by economic analysis of institutions. The policies selected and their implementation by government agencies, property rights and participation in community organizations are all analyzed.
