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In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand...
Persistent link: https://www.econbiz.de/10012469090
: Characteristics and Limits -- The Pragmatic View of Rationality -- Uncertainty versus Dispersed Knowledge -- Contextual Rationality … Order versus Emergence -- Tacit Knowledge versus Bottom-Up Social Processes -- Market Processes (Catallaxy) versus General …
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