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Institutions and the Path to the Modern Economy - Lessons from Medieval Trade (Hardcover)
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Institutions and the Path to the Modern Economy - Lessons from Medieval Trade (Hardcover)
Series: Political Economy of Institutions and Decisions
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It is widely believed that current disparities in economic,
political, and social outcomes reflect distinct institutions.
Institutions are invoked to explain why some countries are rich and
others poor, some democratic and others dictatorial. But arguments
of this sort gloss over the question of what institutions are, how
they come about, and why they persist. They also fail to explain
why institutions are influenced by the past, why it is that they
can sometimes change, why they differ so much from society to
society, and why it is hard to study them empirically and devise a
policy aimed at altering them. This 2006 book seeks to overcome
these problems, which have exercised economists, sociologists,
political scientists, and a host of other researchers who use the
social sciences to study history, law, and business administration.
It presents a multi-disciplinary perspective to study endogenous
institutions and their dynamics.
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