Law, informal rules and economic performance the case for common law
pt. 1. Basic economic concepts -- pt. 2. Transformation of the Medieval community into modern society : the rise of classical liberalism, the rule of law and capitalism -- pt. 3. Toward a theory of institutional change
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| Format: | eBook |
| Language: | English |
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Cheltenham
Edward Elgar
c2008
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | pt. 1. Basic economic concepts -- pt. 2. Transformation of the Medieval community into modern society : the rise of classical liberalism, the rule of law and capitalism -- pt. 3. Toward a theory of institutional change Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust the rules of the game to the requirements of economic progress. The analysis throughout is consistent and is supported by evidence. Key components of the proposed theory are the rule of law, the market for institutions, the interaction thesis, the carriers of change, and the process of changing formal and informal institutions |
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| Physical Description: | xi, 178 p |
| ISBN: | 9781845428730 9781849800273 9781848442900 1845428730 |