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A critique of the new comparative economics

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  • J. Rosser

    ()

  • Marina Rosser

    ()

Abstract

The article critically examines the "new comparative economics" paradigm and its underlying model of the "institutional possibilities frontier" as an instrument of comparative efficiency analysis of economic systems. The model suggests a social costs minimization trade-off between economic disorder and dictatorship. But the alternative approach — that of the "new traditional economics" — is shown to be more adequate and promising. New traditional economics deals with the evolutionary analysis of institutions in the context of historical development of economic and non-economic norms and values.

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Bibliographic Info

Article provided by Springer in its journal The Review of Austrian Economics.

Volume (Year): 21 (2008)
Issue (Month): 1 (March)
Pages: 81-97

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Handle: RePEc:kap:revaec:v:21:y:2008:i:1:p:81-97

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Web page: http://www.springerlink.com/link.asp?id=100335

Related research

Keywords: Institutional possibilities frontier; New comparative economics; New traditional economy; Civic capital;

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  1. Djankov, Simeon & Glaeser, Edward L & López-de-Silanes, Florencio & Shleifer, Andrei, 2003. "The New Comparative Economics," CEPR Discussion Papers 3882, C.E.P.R. Discussion Papers.
  2. RAFAEL LaPORTA & FLORENCIO LOPEZ-de-SILANES & ANDREI SHLEIFER & ROBERT W. VISHNY, . "Legal Determinants of External Finance,"," CRSP working papers 324, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  3. Beck, T.H.L. & Demirgüç-Kunt , A. & Levine, R., 2003. "Law and finance: Why does legal origin matter?," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3125511, Tilburg University.
  4. Edward L. Glaeser & Andrei Shleifer, 2001. "The Rise of the Regulatory State," NBER Working Papers 8650, National Bureau of Economic Research, Inc.
  5. Simon Johnson & Daniel Kaufman & Andrei Shleifer, 1997. "The Unofficial Economy in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 159-240.
  6. J Barkley Rosser & Marina V Rosser, 2005. "The Transition between the Old and New Traditional Economies in India," Comparative Economic Studies, Palgrave Macmillan, vol. 47(3), pages 561-578, September.
  7. Richard A. Posner, 1974. "Theories of Economic Regulation," NBER Working Papers 0041, National Bureau of Economic Research, Inc.
  8. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert Vishny, 1999. "Investor Protection and Corporate Valuation," Harvard Institute of Economic Research Working Papers 1882, Harvard - Institute of Economic Research.
  9. Durlauf, Steven N., 2002. "Bowling Alone: a review essay," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 259-273, March.
  10. J. Barkley Rosser Jr & Marina V. Rosser & Ehsan Ahmed, 2003. "Multiple unofficial economy equilibria and income distribution dynamics in systemic transition," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(3), pages 425-447, March.
  11. Peter Boettke & Christopher Coyne & Peter Leeson & Frederic Sautet, 2005. "The New Comparative Political Economy," The Review of Austrian Economics, Springer, Springer, vol. 18(3), pages 281-304, December.
  12. Craig, Ben & Pencavel, John, 1992. "The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest," American Economic Review, American Economic Association, vol. 82(5), pages 1083-105, December.
  13. Edward L. Glaeser & Jose Scheinkman & Andrei Shleifer, 2002. "The Injustice of Inequality," Harvard Institute of Economic Research Working Papers 1967, Harvard - Institute of Economic Research.
  14. Edward L. Glaeser & Andrei Shleifer, 2001. "Legal Origins," Harvard Institute of Economic Research Working Papers 1920, Harvard - Institute of Economic Research.
  15. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
  16. Rosser, J. Jr. & Rosser, Marina V. & Ahmed, Ehsan, 2000. "Income Inequality and the Informal Economy in Transition Economies," Journal of Comparative Economics, Elsevier, vol. 28(1), pages 156-171, March.
  17. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 803-832, December.
  18. Graham, Carol & Eggers, Andrew & Sukhtankar, Sandip, 2004. "Does happiness pay?: An exploration based on panel data from Russia," Journal of Economic Behavior & Organization, Elsevier, vol. 55(3), pages 319-342, November.
  19. Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-48, June.
  20. J. Barkley Rosser, Jr. & Marina Rosser, 1998. "Islamic and Neo-Confucian Perspectives on the New Traditional Economy," Eastern Economic Journal, Eastern Economic Association, vol. 24(2), pages 217-227, Spring.
  21. repec:cup:cbooks:9780521855266 is not listed on IDEAS
  22. Konstantin Sonin, 2003. "Why the Rich May Favor Poor Protection of Property Rights," Working Papers w0022, Center for Economic and Financial Research (CEFIR).
  23. Bonin, John P & Jones, Derek C & Putterman, Louis, 1993. "Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1290-320, September.
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Cited by:
  1. Stringham, Edward Peter & Zywicki, Todd J., 2011. "Hayekian anarchism," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 290-301, May.
  2. Olivier Blanchard & Michael Kremer, 1997. "Disorganization," William Davidson Institute Working Papers Series 38, William Davidson Institute at the University of Michigan.

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