Institutional strengthening of the free market in the new economic history
The article highlights the current theories in the New Economic History, explaining the market social order rules imposed in the Western World in the post Renaissance period. The social order structure, based on impersonal exchange and rational prudence, differing from any other order in the history of human societies, is derived from a specific set of political and military conditions and world view. The institutional decisions taken as a result thereof enable the contemporary levels of production, trade and economic growth. The applied explanatory approach integrates on the ground of their common features the alternative concepts of this process elaborated by À. Greif, À. Acemoglu and J. Robinson, D. North, J. Wallis and B. Weingast.
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Volume (Year): (2012)
Issue (Month): 5 ()
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- 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 525-548, June.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1231-1294.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," NBER Working Papers 8460, National Bureau of Economic Research, Inc.
- Henrik Egbert, 2007. "The Culture of a Market: A Case Study of Open-Air Horse Markets," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 493-502, September.
- Greif, Avner, 1989. "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 857-882, December.
- Masahiko Aoki, 2001. "Toward a Comparative Institutional Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011875, July.
- Ani Guerdjikova, 2007. "The New Institutional Economics of Markets. Comment," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 517-525, September.
- Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October. Full references (including those not matched with items on IDEAS)
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