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The Decline and Rise of Institutions - A Modern Survey of the Austrian Contribution to the Economic Analysis of Institutions (Paperback)
Loot Price: R531
Discovery Miles 5 310
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The Decline and Rise of Institutions - A Modern Survey of the Austrian Contribution to the Economic Analysis of Institutions (Paperback)
Series: Elements in Austrian Economics
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Loot Price R531
Discovery Miles 5 310
Expected to ship within 12 - 17 working days
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Institutions are the formal or informal 'rules of the game' that
facilitate economic, social, and political interactions. These
include such things as legal rules, property rights, constitutions,
political structures, and norms and customs. The main theoretical
insights from Austrian economics regarding private property rights
and prices, entrepreneurship, and spontaneous order mechanisms play
a key role in advancing institutional economics. The Austrian
economics framework provides an understanding for which
institutions matter for growth, how they matter, and how they
emerge and can change over time. Specifically, Austrians have
contributed significantly to the areas of institutional stickiness
and informal institutions, self-governance and self-enforcing
contracts, institutional entrepreneurship, and the political
infrastructure for development.
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