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On the concept of transition

Author

Listed:
  • Enrico Colombatto

Abstract

This article tries to reassess the meaning of transition. After a critical review of the traditional approach, it is argued that meaningful transition requires emphasis on the change of the institutional path-dependent process. In this light, the issue of transition may also apply to the West. Put differently, the notion of transition is here referred to broader context than that acknowledged by the orthodox views, and now includes the dynamics of power, the attitude towards risk and uncertainty within a civilization and also ideology. It is maintained that changes depend heavily on the opportunities for rent seeking, which may be enhanced or stifled by technological progress or other exogenous events.

Suggested Citation

  • Enrico Colombatto, 2000. "On the concept of transition," ICER Working Papers 15-2000, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:15-2000
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    References listed on IDEAS

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    Cited by:

    1. Pejovich Svetozar, 2001. "After Socialism: Where Hope for Individual Liberty Lies," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 11(1), pages 1-24, March.

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