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In defence of the institutional revolution

Author

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  • Douglas Allen

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Abstract

I defend my thesis laid out in The Institutional Revolution against the comments made by McCloskey, Espin and Mokyr, and Langlois, who all believe that the weight of the great institutional transition is too great for my theory of measurement, and who all quibble with some aspects of my historical analysis. I argue that some of the comments fail to fully appreciate the Coasean approach, and that most of the historical comments miss the mark. I begin with a short discussion of Coase, and then turn to each author in turn. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • Douglas Allen, 2013. "In defence of the institutional revolution," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(4), pages 397-412, December.
  • Handle: RePEc:kap:revaec:v:26:y:2013:i:4:p:397-412
    DOI: 10.1007/s11138-013-0238-4
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    File URL: http://hdl.handle.net/10.1007/s11138-013-0238-4
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    References listed on IDEAS

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    1. Coase, R H, 1992. "The Institutional Structure of Production," American Economic Review, American Economic Association, vol. 82(4), pages 713-719, September.
    2. Richard Langlois, 2013. "The Institutional Revolution: A review essay," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(4), pages 383-395, December.
    3. Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135.
    4. Deirdre McCloskey, 2013. "A neo-institutionalism of measurement, without measurement: A comment on Douglas Allen’s The Institutional Revolution," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(4), pages 363-373, December.
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    More about this item

    Keywords

    Coase; Pre-modern world; Measurement; Institutions; N43; N63; O14; P48;

    JEL classification:

    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913
    • N63 - Economic History - - Manufacturing and Construction - - - Europe: Pre-1913
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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