Economics as a Process
Essays in the New Institutional Economics
By (author) Richard N. Langlois
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Economics as a Process by Richard N. Langlois
Book DescriptionThe essays in Economics as a Process are all concerned with exploring theoretical approaches alternative to the conventional or 'neoclassical' paradigm. Among the schools of thought represented are transaction-cost economics: evolutionary theories: modern 'Austrian' economies: law and economics: reliability theory: and the game-theory approach to the economics of social institutions. The essays are united not by a single topic but by a coherent set of themes - themes best described under the heading of the New Institutional Economics. These include an interest in economic processes as well as in states of equilibrium: a sensitivity to the limits and contours of human rationality: and an emphasis on the various sorts of social institutions that aid and inform economic action. But the essays are not solely methodological or critical. They also include substantive essays that illustrate the New Institutional Economics in practice.
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Book DetailsISBN: 9780521378598
(229mm x 152mm x 16mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 24-Feb-1989
Country of Publication: United Kingdom
Books By Author Richard N. Langlois
Firms, Markets and Economic Change, Hardback (July 1995)» View all books by Richard N. Langlois
The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it.
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