Economic Analysis of Institutions and Systems aims to redirect the study of what was previously referred to as comparative economic systems toward analysis of the history and development of institutions, and the effects of alternative institutional arrangements on economic behavior. To this end, the book internalizes into a theoretical framework: (i) the effects of alternative institutions on the costs of transactions and incentive structures; (ii) the effects of the costs of transactions and incentives on economic behavior, and (iii) the evidence for refutable implications of those effects. In the process, it provides the logical premises for various institutions from which refutable implications can be deduced.

Inhalt

Preface. Part One: Institutions and Property Rights. 1. The Nature of Economics. 2. The Rise of Capitalism and Socialism. 3. Institutions. 4. Law and Institutions. 5. Property Rights. Part Two: Property Rights, Exchange, and Production. 6. The Coase Theorem and Transaction Costs. 7. Private Property Rights, Exchange, and Production. 8. Restrictions on Private Property Rights, Exchange, and Production. 9. Non-Private Property Rights Exchange, and Production. 10. Institutions and Economic Development. Part Three: The Firm. 11. The Firm and Contracts. 12. Capitalist Firms. 13. Socialist Firms. Index of Names.