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The Institutional Revolution: A review essay

  • Richard Langlois

    ()

This review essay discusses and appraises Douglas Allen’s The Institutional Revolution ( 2011 ) as a way of reflecting on the uses of the New Institutional Economics (NIE) in economic history. It praises and defends Allen’s method of asking “what economic problem were these institutions solving?” But it insists that such comparative-institutional analysis be imbedded within a deeper account of institutional change, one driven principally by changes – often endogenous changes – in the extent of the market and in relative scarcities. The essay supports its argument with a variety of examples of the NIE applied to economic history. Copyright Springer Science+Business Media New York 2013

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File URL: http://hdl.handle.net/10.1007/s11138-013-0237-5
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Article provided by Springer in its journal The Review of Austrian Economics.

Volume (Year): 26 (2013)
Issue (Month): 4 (December)
Pages: 383-395

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Handle: RePEc:kap:revaec:v:26:y:2013:i:4:p:383-395
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  1. Johnson Ronald N. & Libecap Gary D., 1994. "Patronage to Merit and Control of the Federal Government Labor Force," Explorations in Economic History, Elsevier, vol. 31(1), pages 91-119, January.
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  3. Richard N. Langlois, 2005. "The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm," Working papers 2005-27, University of Connecticut, Department of Economics, revised Oct 2005.
  4. Williamson, Oliver E., 1980. "The organization of work a comparative institutional assessment," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 5-38, March.
  5. Langlois, Richard N., 2003. "Cognitive comparative advantage and the organization of work: Lessons from Herbert Simon's vision of the future," Journal of Economic Psychology, Elsevier, vol. 24(2), pages 167-187, April.
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  7. Richard N. Langlois, 2002. "The Vanishing Hand: the Changing Dynamics of Industrial Capitalism," Working papers 2002-21, University of Connecticut, Department of Economics.
  8. Miller, Nolan & Wagner, Alexander F. & Zeckhauser, Richard J., 2012. "Solomonic Separation: Risk Decisions as Productivity Indicators," Working Paper Series rwp12-057, Harvard University, John F. Kennedy School of Government.
  9. Buttrick, John, 1952. "The Inside Contract System," The Journal of Economic History, Cambridge University Press, vol. 12(03), pages 205-221, June.
  10. Domar, Evsey D., 1970. "The Causes of Slavery or Serfdom: A Hypothesis," The Journal of Economic History, Cambridge University Press, vol. 30(01), pages 18-32, March.
  11. Richard N. Langlois, 2003. "Chandler in a Larger Frame: Markets, Transaction Costs, and Organizational Form in History," Working papers 2003-16R, University of Connecticut, Department of Economics, revised Jan 2004.
  12. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change
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  13. Sidney Pollard, 1963. "Factory Discipline in the Industrial Revolution," Economic History Review, Economic History Society, vol. 16(2), pages 254-271, December.
  14. Szostak, Rick, 1989. "The organization of work : The emergence of the factory revisited," Journal of Economic Behavior & Organization, Elsevier, vol. 11(3), pages 343-358, May.
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