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This book deals with a variety of issues including matters of method, particularly John R. Commons' pragmatism, the role of scarcity and conflict in economics as opposed to a presumed harmony of interest, and the importance of custom and common law as opposed to individual pleasures and pains.

Institutional economics is an increasingly important area in the field which also verges into political science and sociology. This concise and lucid textbook, which assumes a basic understanding of neoclassical economics, introduces the key ideas, emphasizing the "new" institutional economics but grounding readers in the traditional perspectives.

Commons opened Institutional Economics by declaring: "My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual action." This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.

This thoroughly revised, extended and updated edition of a critically acclaimed textbook provides an accessible and cohesive introduction to the burgeoning discipline of institutional economics. Requiring only a basic understanding of economics, this lucid and well-written text will be essential reading for undergraduate and postgraduate students wanting to understand the problems of the real world - such as entrepreneurship, innovation, the cost of the welfare state, international financial crises, and economic development. As institutional economics is now revolutionising policy making, the book can also serve as a guide to the pressing problems facing policy makers in mature and emergent countries alike.Key features include:- A short 'Primer' at the beginning of each chapter to highlight the main issues and their relevance.- Key Concepts such as 'institutions', 'economic order', 'coordination costs', competition' and 'public policy' are highlighted and clearly defined.- International coverage is ensured as the three authors, experienced academic teachers, work in the US, Europe and the Asia Pacific.Contents: Foreword 1. Introduction: Why Institutions Matter Part I: Foundations 2. Definitions: Economics, Institutions, Order and Policy 3. Human Behaviour 4. Fundamental Values 5. Institutions: Individual Rules 6. Institutional Systems and Social Order Part II: Applications 7. The Institutional Foundations of Capitalism 8. The Dynamics of Competition 9. Economic Organizations 10. Collective Action: Public Policy 11. The International Dimension 12. The Evolution of Institutions 13. Socialism versus Capitalism - System Transformations 14. Economic Freedom and Development Epilogue: Institutional versus Neoclassical Economics Bibliography Index

Commons opened Institutional Economics by declaring: "My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual action." This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.

The new institutional economics is one of the the most important new bodies of theory to emerge in economics in recent years. The contributors to this volume address its significance for the developing world. The book is a major contribution to an area of debate still in its formative phase. The book challenges the orthodoxies of development, especially concerning the role of markets. It includes articles from Robert Bates, John Toye and Nobel Laureate Douglass North.

This book deals with a variety of issues including matters of method, particularly John R. Commons' pragmatism, the role of scarcity and conflict in economics as opposed to a presumed harmony of interest, and the importance of custom and common law as opposed to individual pleasures and pains.

Like New condition. Great condition, but not exactly fully crisp. The book may have been opened and read, but there are no defects to the book, jacket or pages. 4.85

Unread book in perfect condition.

This thoroughly revised, extended and updated edition of a critically acclaimed textbook provides an accessible and cohesive introduction to the burgeoning discipline of institutional economics. Requiring only a basic understanding of economics, this lucid and well-written text will be essential reading for undergraduate and postgraduate students wanting to understand the problems of the real world - such as entrepreneurship, innovation, the cost of the welfare state, international financial crises, and economic development. As institutional economics is now revolutionising policy making, the book can also serve as a guide to the pressing problems facing policy makers in mature and emergent countries alike.Key features include:- A short 'Primer' at the beginning of each chapter to highlight the main issues and their relevance.- Key Concepts such as 'institutions', 'economic order', 'coordination costs', competition' and 'public policy' are highlighted and clearly defined.- International coverage is ensured as the three authors, experienced academic teachers, work in the US, Europe and the Asia Pacific.Contents: Foreword 1. Introduction: Why Institutions Matter Part I: Foundations 2. Definitions: Economics, Institutions, Order and Policy 3. Human Behaviour 4. Fundamental Values 5. Institutions: Individual Rules 6. Institutional Systems and Social Order Part II: Applications 7. The Institutional Foundations of Capitalism 8. The Dynamics of Competition 9. Economic Organizations 10. Collective Action: Public Policy 11. The International Dimension 12. The Evolution of Institutions 13. Socialism versus Capitalism - System Transformations 14. Economic Freedom and Development Epilogue: Institutional versus Neoclassical Economics Bibliography Index

New! This book is in the same immaculate condition as when it was published 1.06

Unread book in perfect condition.

This outstanding book, now available in paperback, presents new original contributions from some of the world's leading economists including Ronald Coase, Douglass North, Masahiko Aoki, Oliver E. Williamson and Harold Demsetz. It demonstrates the extent and depth of the New Institutional Economics research program which is having a worldwide impact on the economics profession. The contributors lay out the fundamental dimensions of the research program with special emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. After examining the foundations of New Institutional Economics and honoring Ronald Coase's contribution to the field, they present controversial and conflicting views on the sources of growth. They place special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcement of contracts and modes of organization. Written by an eminent group of scholars, Institutions, Contracts and Organizations is an important landmark in the development of New Institutional Economics.

This outstanding book, now available in paperback, presents new original contributions from some of the world's leading economists including Ronald Coase, Douglass North, Masahiko Aoki, Oliver E. Williamson and Harold Demsetz. It demonstrates the extent and depth of the New Institutional Economics research program which is having a worldwide impact on the economics profession. The contributors lay out the fundamental dimensions of the research program with special emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. After examining the foundations of New Institutional Economics and honoring Ronald Coase's contribution to the field, they present controversial and conflicting views on the sources of growth. They place special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcement of contracts and modes of organization. Written by an eminent group of scholars, Institutions, Contracts and Organizations is an important landmark in the development of New Institutional Economics.

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.

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This book presents a model for examining problems of institutional change and applies it to American economic development in the nineteenth and twentieth centuries. The authors develop their model of institutional change. They argue that if external economic factors make an increase in income possible but not attainable within the existing institutional structure, new organizations must be developed to achieve the potential in income. Their model is designed to explain the type and timing of these necessary changes in institutional organization. Individual, voluntary cooperative, and governmental arrangements are included in the discussion, although the latter differs considerably from the first two.

Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions.In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.

Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions.In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.

This book will appeal to those with an interest in evolutionary economics, economic development and the history of economic thought.