Interlocking complementarities and institutional change
AbstractIn biology, the laws that regulate the structuring and change of complex organisms, characterised by interlocking complementarities, are different from those that shape the evolution of simple organisms. Only the latter share mechanisms of competitive selection of the fittest analogous to those envisaged by the standard neoclassical model in economics. The biological counterparts of protectionism, subsidies and conflicts enable complex organisms to exit from long period of stasis and to increase their capacity to adapt efficiently to the environment. Because of their interlocking complementarities, most institutions share the laws governing the structure and change of complex organisms. We concentrate on the complementarities between technology and property rights and consider historical cases in which organizational stasis has been overcome by mechanisms different from (and sometimes acting in spite of) competitive pressure. The evolution of institutions cannot be taken for granted; but even when institutions seem frozen for ever by their interlocking complementarities, their potential for change can be discovered by analysis of those interactions
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Journal of Institutional Economics.
Volume (Year): 7 (2011)
Issue (Month): 03 (September)
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Other versions of this item:
- Ugo Pagano, 2010. "Interlocking Complementarities and Institutional Change," Department of Economics University of Siena 598, Department of Economics, University of Siena.
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
- N60 - Economic History - - Manufacturing and Construction - - - General, International, or Comparative
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John S. Earle & Ugo Pagano & Maria Lesi, 2002.
"Information Technology, Organizational Form, and Transition to the Market,"
Upjohn Working Papers and Journal Articles
02-82, W.E. Upjohn Institute for Employment Research.
- Earle, John S. & Pagano, Ugo & Lesi, Maria, 2006. "Information technology, organizational form, and transition to the market," Journal of Economic Behavior & Organization, Elsevier, vol. 60(4), pages 471-489, August.
- John S. Earle & Ugo Pagano & Maria Lesi, . "Information Technology, Organizational Form, and Transition to the Market," Upjohn Working Papers and Journal Articles jse20065, W.E. Upjohn Institute for Employment Research.
- Ugo Pagano, 2013.
"Love, war and cultures: an institutional approach to human evolution,"
Journal of Bioeconomics,
Springer, vol. 15(1), pages 41-66, April.
- Ugo Pagano, 2012. "Love, War and Cultures: an Institutional Approach to Human Evolution," Department of Economics University of Siena 632, Department of Economics, University of Siena.
- Fabio Landini, 2012.
"Institutional Change and Information Production,"
Department of Economics University of Siena
645, Department of Economics, University of Siena.
- Landini, Fabio, 2012. "Technology, property rights and organizational diversity in the software industry," Structural Change and Economic Dynamics, Elsevier, vol. 23(2), pages 137-150.
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