Grinberg, N. (2018). Institutions and Capitalist Development: A Critique of the New Institutional Economics. Science & Society, 82(2), 203-233.
ABSTRACT New Institutional Economics (NIE) is a branch of neoclassical economics that regards the institutional setting of exchange (markets) as the key force accounting for differences in nations’ economic performance. Though originally focused on economic institutions, this approach has paid increasing attention to the political institutions giving birth to the former. Why Nations Fail? by … Read more