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In this article, we provide a broad overview of the interplay among cognition, belief systems, and institutions, and how they affect economic performance. We argue that a deeper understanding of institutions emergence, their working properties, and their effect on economic and political outcomes...
Persistent link: https://www.econbiz.de/10011581486
In this work we shall attempt an excursus across fundamentally different streams of modern interpretations of the "primitive entities" constituting the social fabrics of economic systems. Behind each specific interpretative story, there is a set of ceteris paribus assumptions and also some...
Persistent link: https://www.econbiz.de/10011554090
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The aim of this paper is to outline some foundational aspects of a theory of self-organising social change. Synchronous …-reproduction. Aspects of Marxist crisis theory can be incorporated consistently into the framework of a theory of social self … dialectic relationship of chance and necessity. Regulation theory sees the development of system shaped by a dialectic of chance …
Persistent link: https://www.econbiz.de/10014031137
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The overall objective of this paper is to contribute conceptually to the questions why and how regions transform and it joins the debate on economic evolution and institutional change. The paper addresses the challenge of how to conceptualise the interdependencies of institutions of different...
Persistent link: https://www.econbiz.de/10011487791
Path dependence as a concept in institutional theories has become increasingly popular in economics and other social sciences. The key idea is that in a sequence of events, the latter events are not (completely) independent from those that occurred in the past. Yet, common usage of the concept...
Persistent link: https://www.econbiz.de/10002740402
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This paper argues that an evolutionary approach to policy-making, which emphasizes openness to change and political variety, is particularly compatible with the central tenets of classical liberalism. The chief reasons are that classical liberalism acknowledges the ubiquity of uncertainty, as...
Persistent link: https://www.econbiz.de/10010405404
We argue that the future of Austrian political economy rests on the study of how institutional entrepreneurs discover and implement alternative institutional arrangements conducive to economic growth. This requires a dual level of analysis in spontaneous order studies. How such institutional...
Persistent link: https://www.econbiz.de/10013006181