Economics Dictionary of Arguments

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Terminology: This section explains special features of the language used by the individual authors.
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Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

 
Author Concept Summary/Quotes Sources

Daron Acemoglu on Terminology - Dictionary of Arguments

Acemoglu I 74
Terminology/Acemoglu/Robinson: Def Inclusive institutions: (...) such as those in South Korea or in the United States, are those that allow and encourage participation by the great mass of people in economic activities that make best use of their talents and skills and that enable individuals to make the choices they wish. To be inclusive, economic institutions must feature secure private property, an unbiased system of law, and a provision of public services that provides a level playing field in which people can exchange and contract; it also must permit the entry of new businesses and allow people to choose their careers.
Acemoglu I 75
Def Exctractive Institutions/Acemoglu/Robinson: (...) such institutions are designed to extract incomes and wealth from one subset of society to benefit a different subset. >Institutions/Acemoglu
.
Acemoglu I 79
Def Politics/Acemoglu/Robinson: Politics is the process by which a society chooses the rules that will govern it.
Def Political institutions/Acemoglu/Robinson: The political institutions of a society are (...) the rules that govern incentives in politics
Acemoglu I 106
Critical Junctures/Acemoglu/Robinson: During critical junctures, a major event or confluence of factors disrupts the existing balance of political or economic power in a nation. >Critical Junctures.
Acemoglu I 108
Institutional Drift/Acemoglu/Robinson: Societies are constantly subject to economic and political conflict that is resolved in different ways because of specific historical differences, the role of individuals, or just random factors. These differences are often small to start with, but they cumulate, creating a process of institutional drift. >Institutional Drift.
Virtuous Circle/Terminology/Acemoglu/Robinson: [inclusive] institutions that encourage prosperity create positive feedback loops that prevent the efforts by elites to undermine them.
Acemoglu I 334
Vicious circle/Acemoglu/Robinson: extractive institutions create equally strong forces toward their persistence - the process of the vicious circle.

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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Acemoglu II
James A. Acemoglu
James A. Robinson
Economic origins of dictatorship and democracy Cambridge 2006

Acemoglu I
James A. Acemoglu
James A. Robinson
Why nations fail. The origins of power, prosperity, and poverty New York 2012


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