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economics, this paper sketches the fundamentals of a naturalistic theory of economic order. In this endeavour, the argument … framework to substantive institutions that has been recently proposed by Aoki, I present Hayek's theory of culture in terms of … of thinking can be traced back to Adam Smith, as far as the conjunction of his views in the "Theory of Moral Sentiment …
Persistent link: https://www.econbiz.de/10009382379
Adaptation to the consequences of climate change has attracted increasing interest as a necessary complement to greenhouse gas mitigation. Economic approaches to climate adaptation are rarely articulated and discussed explicitly despite many benefits of such a framework-level discourse....
Persistent link: https://www.econbiz.de/10009524367
There are several ways to incorporate evolutionary concepts into economic thinking. This article reviews the most important transfers of this kind into evolutionary economics. It broadly differentiates between approaches that draw on an analogy construction to the biological sphere, those that...
Persistent link: https://www.econbiz.de/10010436762
a strictly naturalistic approach to this duality in the context of the theory of institutions, which means that its use …
Persistent link: https://www.econbiz.de/10013118396
The article argues the neutral nature of markets. It describes the ways neutral markets expand or fold under the influence of non-neutral institutions. A demarcation is lined up between efficacy of a market process and a market result. The paper shows inconsistency of existing neoclassic models...
Persistent link: https://www.econbiz.de/10013097563
How do ideas evolve? Can one speak of scientific progress when there is more than one pathway of intellectual evolution in which different ideas emerge and flow in different directions? Is the history of economic analysis a compilation of a number of intellectual pathways? This essay argues that...
Persistent link: https://www.econbiz.de/10013108036
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
presents a theory of institutions that focuses on their cognitive foundations and the enforcement mechanisms. Institutions are …
Persistent link: https://www.econbiz.de/10013092584
notion of “institutional capital” appeared in the literature, without neither satisfied definition nor demonstration. In this …
Persistent link: https://www.econbiz.de/10013067670
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