New Institutional Dimensions of Economics: Comparative Elaboration and Application
Among economists the recognition of the importance of social and eco 1 nomic institutions has grown during the last ten years. Even be fore the more recent period, however, this trend of thought was 2 clearly noticeable. The origin and formation of institutions was one of the issues which, accordi...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Berlin, Heidelberg
Springer Berlin Heidelberg
1988
|
| Ausgabe: | 1st ed. 1988 |
| Schriftenreihe: | Studies in Contemporary Economics
|
| Schlagworte: | |
| Online-Zugang: | BTU01 URL des Erstveröffentlichers |
| Zusammenfassung: | Among economists the recognition of the importance of social and eco 1 nomic institutions has grown during the last ten years. Even be fore the more recent period, however, this trend of thought was 2 clearly noticeable. The origin and formation of institutions was one of the issues which, according to C. MENGER, should playa central 3 role in economics. Nevertheless, this tradition is not reflected in mainstream eco nomics. L. HURWICZ characterizes this failure by observing that "tra ditionally, economic analysis treats the economic system as one of the givens" (1973, p. 1). In this case "system" may be understood in a narrower or in a wider sense comprising only contracts (on markets) or a larger variety of procedures for the co-ordination of economic activities as, for instance, managerial hierarchies. In view of the prominent role of price theory in mainstream economics one would guess that-the system is perceived to comprise mainly contracts as co-ordinating procedures: prices form a constituent part of contracts on markets but not of other co-ordination procedures. This indicates an understanding in the narrow sense. There is an additional and even more convincing argument in favour of our contention that mainstream economics is based on this narrow interpretation of the economic system: It evaluates alternative situations by reference to the allocation of the factors of production, i. e. by comparing outcomes of the economic process. Doing so is only logical if the economic system is understood as a system of contracting on markets |
| Beschreibung: | 1 Online-Ressource (IX, 196 p. 1 illus) |
| ISBN: | 9783642833205 |
| DOI: | 10.1007/978-3-642-83320-5 |
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| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1007/978-3-642-83320-5 |
| edition | 1st ed. 1988 |
| format | Electronic eBook |
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| spelling | Schenk, Karl E. Verfasser aut New Institutional Dimensions of Economics Comparative Elaboration and Application by Karl E. Schenk 1st ed. 1988 Berlin, Heidelberg Springer Berlin Heidelberg 1988 1 Online-Ressource (IX, 196 p. 1 illus) txt rdacontent c rdamedia cr rdacarrier Studies in Contemporary Economics Among economists the recognition of the importance of social and eco 1 nomic institutions has grown during the last ten years. Even be fore the more recent period, however, this trend of thought was 2 clearly noticeable. The origin and formation of institutions was one of the issues which, according to C. MENGER, should playa central 3 role in economics. Nevertheless, this tradition is not reflected in mainstream eco nomics. L. HURWICZ characterizes this failure by observing that "tra ditionally, economic analysis treats the economic system as one of the givens" (1973, p. 1). In this case "system" may be understood in a narrower or in a wider sense comprising only contracts (on markets) or a larger variety of procedures for the co-ordination of economic activities as, for instance, managerial hierarchies. In view of the prominent role of price theory in mainstream economics one would guess that-the system is perceived to comprise mainly contracts as co-ordinating procedures: prices form a constituent part of contracts on markets but not of other co-ordination procedures. This indicates an understanding in the narrow sense. There is an additional and even more convincing argument in favour of our contention that mainstream economics is based on this narrow interpretation of the economic system: It evaluates alternative situations by reference to the allocation of the factors of production, i. e. by comparing outcomes of the economic process. Doing so is only logical if the economic system is understood as a system of contracting on markets Economics, general Economics Management science Wirtschaftstheorie (DE-588)4079351-5 gnd rswk-swf Wirtschaftssystem (DE-588)4117663-7 gnd rswk-swf Institution Soziologie (DE-588)4027207-2 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Institutionenökonomie (DE-588)4027208-4 gnd rswk-swf Organisation (DE-588)4043774-7 gnd rswk-swf Einrichtung (DE-588)4113393-6 gnd rswk-swf Entscheidungstheorie (DE-588)4138606-1 gnd rswk-swf Ökonomische Theorie der Politik (DE-588)4043214-2 gnd rswk-swf Unternehmen (DE-588)4061963-1 s Organisation (DE-588)4043774-7 s Entscheidungstheorie (DE-588)4138606-1 s DE-604 Einrichtung (DE-588)4113393-6 s Wirtschaftstheorie (DE-588)4079351-5 s Wirtschaftssystem (DE-588)4117663-7 s Institution Soziologie (DE-588)4027207-2 s Ökonomische Theorie der Politik (DE-588)4043214-2 s Institutionenökonomie (DE-588)4027208-4 s Erscheint auch als Druck-Ausgabe 9783540187387 Erscheint auch als Druck-Ausgabe 9783642833212 https://doi.org/10.1007/978-3-642-83320-5 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Schenk, Karl E. New Institutional Dimensions of Economics Comparative Elaboration and Application Economics, general Economics Management science Wirtschaftstheorie (DE-588)4079351-5 gnd Wirtschaftssystem (DE-588)4117663-7 gnd Institution Soziologie (DE-588)4027207-2 gnd Unternehmen (DE-588)4061963-1 gnd Institutionenökonomie (DE-588)4027208-4 gnd Organisation (DE-588)4043774-7 gnd Einrichtung (DE-588)4113393-6 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Ökonomische Theorie der Politik (DE-588)4043214-2 gnd |
| subject_GND | (DE-588)4079351-5 (DE-588)4117663-7 (DE-588)4027207-2 (DE-588)4061963-1 (DE-588)4027208-4 (DE-588)4043774-7 (DE-588)4113393-6 (DE-588)4138606-1 (DE-588)4043214-2 |
| title | New Institutional Dimensions of Economics Comparative Elaboration and Application |
| title_auth | New Institutional Dimensions of Economics Comparative Elaboration and Application |
| title_exact_search | New Institutional Dimensions of Economics Comparative Elaboration and Application |
| title_exact_search_txtP | New Institutional Dimensions of Economics Comparative Elaboration and Application |
| title_full | New Institutional Dimensions of Economics Comparative Elaboration and Application by Karl E. Schenk |
| title_fullStr | New Institutional Dimensions of Economics Comparative Elaboration and Application by Karl E. Schenk |
| title_full_unstemmed | New Institutional Dimensions of Economics Comparative Elaboration and Application by Karl E. Schenk |
| title_short | New Institutional Dimensions of Economics |
| title_sort | new institutional dimensions of economics comparative elaboration and application |
| title_sub | Comparative Elaboration and Application |
| topic | Economics, general Economics Management science Wirtschaftstheorie (DE-588)4079351-5 gnd Wirtschaftssystem (DE-588)4117663-7 gnd Institution Soziologie (DE-588)4027207-2 gnd Unternehmen (DE-588)4061963-1 gnd Institutionenökonomie (DE-588)4027208-4 gnd Organisation (DE-588)4043774-7 gnd Einrichtung (DE-588)4113393-6 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Ökonomische Theorie der Politik (DE-588)4043214-2 gnd |
| topic_facet | Economics, general Economics Management science Wirtschaftstheorie Wirtschaftssystem Institution Soziologie Unternehmen Institutionenökonomie Organisation Einrichtung Entscheidungstheorie Ökonomische Theorie der Politik |
| url | https://doi.org/10.1007/978-3-642-83320-5 |
| work_keys_str_mv | AT schenkkarle newinstitutionaldimensionsofeconomicscomparativeelaborationandapplication |