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A critique of the new comparative economics

  • J. Rosser

    ()

  • Marina Rosser

    ()

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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File URL: http://hdl.handle.net/10.1007/s11138-006-0011-z
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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
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100335

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  1. Edward L. Glaeser & Andrei Shleifer, 2002. "The Injustice of Inequality," NBER Working Papers 9150, National Bureau of Economic Research, Inc.
  2. 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.
  3. Richard A. Posner, 1974. "Theories of Economic Regulation," NBER Working Papers 0041, National Bureau of Economic Research, Inc.
  4. Peter Boettke & Christopher Coyne & Peter Leeson & Frederic Sautet, 2005. "The New Comparative Political Economy," The Review of Austrian Economics, Springer, vol. 18(3), pages 281-304, December.
  5. 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.
  6. Andrei Shleifer & Simeon Djankov & Edward L. Glaeser & Rafael La Porta & Florencio Lopez de Silanes, 2003. "The New Comparative Economics," Yale School of Management Working Papers ysm355, Yale School of Management.
  7. Sonin, Konstantin, 2003. "Why the rich may favor poor protection of property rights," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 715-731, December.
  8. Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Harvard Institute of Economic Research Working Papers 1788, Harvard - Institute of Economic Research.
  9. 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.
  10. Rafael La Porta & Florencio Lopez-deSilanes & Andrei Shleifer & Robert W. Vishny, 1999. "Investor Protection and Corporate Valuation," NBER Working Papers 7403, National Bureau of Economic Research, Inc.
  11. Edward L. Glaeser & Andrei Shleifer, 2001. "The Rise of the Regulatory State," NBER Working Papers 8650, National Bureau of Economic Research, Inc.
  12. Edward L. Glaeser & Andrei Shleifer, 2001. "Legal Origins," NBER Working Papers 8272, National Bureau of Economic Research, Inc.
  13. Thorsten Beck & Asli Demirguc-Kunt & Ross Levine, 2002. "Law and Finance: why Does Legal Origin Matter?," NBER Working Papers 9379, National Bureau of Economic Research, Inc.
  14. 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.
  15. 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.
  16. 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.
  17. 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.
  18. 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.
  19. 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.
  20. Durlauf,S.N., 2000. "Bowling alone : a review essay," Working papers 29, Wisconsin Madison - Social Systems.
  21. repec:ner:tilbur:urn:nbn:nl:ui:12-3125511 is not listed on IDEAS
  22. 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.
  23. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
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