Economics Dictionary of Arguments

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Economic institutions: Economic institutions are frameworks, norms, and systems governing economic activities within societies. They include legal, regulatory, and organizational structures that shape markets, property rights, contracts, and trade. These institutions facilitate transactions, enforce rules, and define the economic behavior of individuals, firms, and governments, influencing resource allocation and economic outcomes. See also Economy, Institutions, Allocation, Norms, Laws, Law, Society, State, Markets, Property, Trade.
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 Economic Institutions - Dictionary of Arguments

Acemoglu I 95
Economic Institutions/Acemoglu/Robinson: (...) when growth comes under extractive political institutions but where economic institutions have inclusive aspects, as they did in South Korea, there is always the danger that economic institutions become more extractive and growth stops. Those controlling political power will eventually find it more beneficial to use their power to limit competition, to increase their share of the pie, or even to steal and loot from others rather than support economic progress. The distribution and ability to exercise power will ultimately undermine the very foundations of economic prosperity, unless political institutions are transformed from extractive to inclusive. ((s) For the distinction extractive/inclusive institutions: see >Institutions/Acemoglu.)

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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