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The Growth and Decay of Custom: The Role of the New Institutional Economics in Economic History

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  • Basu, Kaushik
  • Jones, Eric
  • Schlicht, Ekkehart

Abstract

Customs and institutions affect and are affected by economic relations and processes. The two-way interaction is particularly important in studying history where the scale of the temporal canvas ensures that very few variables can be treated as parametric. This paper assesses the methodology which attempts the task. In particular it examines the problem of endogenizing customs, evaluates claims for the optimality of institutions, and also comments on the interplay between structural and inertial forces. Recent work in the new institutional economics stresses structural forces, while traditional history emphasizes inertial forces, but on closer analysis these are shown to be complementary.
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(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Basu, Kaushik & Jones, Eric & Schlicht, Ekkehart, 1987. "The Growth and Decay of Custom: The Role of the New Institutional Economics in Economic History," Munich Reprints in Economics 3328, University of Munich, Department of Economics.
  • Handle: RePEc:lmu:muenar:3328
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    References listed on IDEAS

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    8. Schlicht, Ekkehart, 1975. "A Neoclassical Theory of Wealth Distribution," Munich Reprints in Economics 3386, University of Munich, Department of Economics.
    9. von Weizsacker, Carl Christian, 1971. "Notes on endogenous change of tastes," Journal of Economic Theory, Elsevier, vol. 3(4), pages 345-372, December.
    10. Schlicht, Ekkehart, . "Isolation and Aggregation in Economics," Monographs in Economics, University of Munich, Department of Economics, number 3, Jul-Dec.
    11. Schlicht, Ekkehart, 1984. "Plant Closings, Worker Reallocation Costs and Efficiency Gains to Labor Representation on the Board of Directors: Comment on Furubotn/Wiggins," Munich Reprints in Economics 3342, University of Munich, Department of Economics.
    12. Basu, Kaushik, 1986. "One Kind of Power," Oxford Economic Papers, Oxford University Press, vol. 38(2), pages 259-282, July.
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    Cited by:

    1. Schlicht, Ekkehart, . "Economic Analysis and Organised Religion," Chapters in Economics, University of Munich, Department of Economics.
    2. Eric Jones, 1997. "China’s Strategie Preferences: Alastair Iain Johnston, Cultural Realism: Strategic Culture and Grand Strategy in Chinese History, Princeton University Press, Princeton, 1995," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 4(4), pages 495-504.
    3. Joseph Siani, 2015. "A Multidimensional Analysis of Poverty using the Fuzzy Set Approach. Evidence from Cameroonian data," Economics Bulletin, AccessEcon, vol. 35(3), pages 2012-2025.
    4. Goyal, Sanjeev & Janssen, Maarten C. W., 1995. "Dynamic coordination failures and the efficiency of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 28(2), pages 223-239, October.
    5. Schlicht, Ekkehart, . "Koordinationskosten und "Social Capital"," Chapters in Economics, University of Munich, Department of Economics.
    6. Sergio Parrinello, 2002. "The 'institutional factor' in the theory of international trade: new vs. old trade theories," Chapters,in: Is There Progress in Economics?, chapter 15 Edward Elgar Publishing.
    7. Kubler, Dorothea, 2001. "On the Regulation of Social Norms," Journal of Law, Economics, and Organization, Oxford University Press, vol. 17(2), pages 449-476, October.
    8. Carnaje, Gideon P., 2007. "Contractual Arrangements in Philippine Fisheries," Discussion Papers DP 2007-22, Philippine Institute for Development Studies.
    9. Basu, Kaushik, 1995. "Civil institutions and evolution: Concepts, critique and models," Journal of Development Economics, Elsevier, vol. 46(1), pages 19-33, February.
    10. Sindzingre, Alice, 2005. "Explaining Threshold Effects of Globalization on Poverty: An Institutional Perspective," WIDER Working Paper Series 053, World Institute for Development Economic Research (UNU-WIDER).
    11. Schmid, Günther, 1989. "Die neue institutionelle Ökonomie: Königsweg oder Holzweg zu einer Institutionstheorie des Arbeitsmarktes?," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 386-408.
    12. Cramb, Rob A., 1993. "The Evolution of Property Rights to Land in Sarawak: An Institutionalist Perspective," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 61(02), August.

    More about this item

    JEL classification:

    • N0 - Economic History - - General
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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