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The Austrian and Bloomington Schools of Political Economy (Hardcover)
Loot Price: R3,380
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The Austrian and Bloomington Schools of Political Economy (Hardcover)
Series: Advances in Austrian Economics
Expected to ship within 12 - 17 working days
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The relationship between the Austrian tradition and Bloomington
institutionalism has been part of a larger intellectual evolution
of a family of schools of thought that coevolved in multiple
streams over the last 100 years or so. The Bloomington scholars,
once they delineated the broader parameters of their own research
program, started to reconstruct, reinterpret, and in many cases
simply rediscover and reinvent Austrian insights and themes. As
such, they created the possibility of giving those insights and
themes new interpretations and new applications, in novel
circumstances with new research priorities, in particular, public
administration, governance and collective action, and
entrepreneurship in non-market settings. Was there a programmatic
and explicit effort to recover and reinvent the Austrian tradition?
The answer has to be an emphatic 'no'. But that is precisely the
reason why the Ostroms' work should be interesting to scholars
working in the Austrian tradition. The thematic convergence and the
compatibility and complementarity between the Austrian and
Bloomington schools is driven by their internal underlying
theoretical logic and by the logic of problem solving. Upon closer
inspection, the underlying familial and genealogical connections
reveal themselves again and again. The convergence and interplay
between these two intellectual traditions is rich and productive.
On the one hand, it stands as a demonstration of the applied
relevance of the set of approaches and issues that we traditionally
associate with the Austrian tradition. On the other hand, it is a
challenge to further explore and elaborate this area. This volume
is an attempt to respond to that challenge.
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