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Institutional bottlenecks refer to path-dependent institutional arrangements which contribute to economic stagnation. In his research, Timur Kuran identifies several historical institutional bottlenecks which contributed to economic decline and underdevelopment of the Middle East. We use Kuran's...
Persistent link: https://www.econbiz.de/10013089443
The paper provides a theory of freedom of speech based on the new institutional political economy. Through politics … theories of free speech: Mill's marketplace of ideas theory, Meiklejohn's democracy theory, and Baker's liberty theory. The … paper then shows how the institutional theory can be meaningfully applied to two common questions in freedom of speech …
Persistent link: https://www.econbiz.de/10012963998
Theoretical and practical problems of structural policy are considered under institutional uncertainty, financial constraints and fiscal consolidation programs. The necessity for development and implementation of a new concept of structural policy is justified in view of the actual state of the...
Persistent link: https://www.econbiz.de/10012927226
This paper shows the links between Hume's philosophy of customs, and the basic principles of institutional theory. This …
Persistent link: https://www.econbiz.de/10012783571
The Ostroms' research program has a dimension that goes beyond the strict boundaries of political science and economics, crossing into the domain of political philosophy. Bloomington scholars created a framework for analyzing how institutions work and develop that helped them specify and examine...
Persistent link: https://www.econbiz.de/10012961616
Thorstein Veblen, we focus on the contributions of the instrumental value theory and other original institutional traditions in …
Persistent link: https://www.econbiz.de/10013002232
In this paper we revisit the case for methodological individualism for the positive analysis of political economy. We argue that the basis of methodological individualism implies neither a necessary commitment to atomistic reductionism in explaining social phenomena nor philosophical...
Persistent link: https://www.econbiz.de/10013004792
is, neoclassical theory, making use of some relevant authors' works in philosophy (i.e., Alfred Meele, Robert Audi) as …
Persistent link: https://www.econbiz.de/10013059632
This paper is an attempt to analyze institutional change in the economy synthesizing the original and new methodologies of institutional economics. The concepts of social values, interest groups, and social capital are applied in this context in order to create a theoretical framework based on a...
Persistent link: https://www.econbiz.de/10013043306
The efficiency of institutions, understood in the neoclassical sense, i.e., as the result of constraint optimization of a neoclassical economy is pointless from the perspective of the New Institutional Economics, because the latter assumes incomplete foresight. For such a world one cannot use...
Persistent link: https://www.econbiz.de/10012918287