The Political Infrastructure of Economic Development

Author:

Boettke Peter J.1

Affiliation:

1. Department of Economics, New York University, 269 Mercer Street, New York, NY 10003-6687, USA

Abstract

The collapse of the Soviet model for economic development questions the meaning of the distinction between the First, Second, and Third World. Instead, the classical social scientific distinction between developed and underdeveloped, capitalist and non-capitalist world, appears more appropriate. The problem of development then is one of understanding the causal determinants of progress. A comparative historical political economy research program forces scholars to pay attention to the institutional infrastructure of society, the impact of alternative institutional environments on human action, and the consequences in terms of social and economic progress. Neither old nor new neo-classical economic theory can address these institutional questions, and as such they do not advance our understanding of the causal determinants of economic development. To understand economic development, what is needed is not more elaborate formal models of growth or better techniques for measurement, but more detailed historical studies of the pattern of development across countries and periods. The conjecture that emerges from such a study is that the source of development can be found in the political and legal institutions, and the indigenous cultural practices that combine to form the institutional infrastructure of any society. An appendix applies the argument to developments in Russia.

Publisher

IOS Press

Subject

General Business, Management and Accounting

Cited by 10 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

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2. Takings and Tax Revenue: Fiscal Impacts of Eminent Domain;SSRN Electronic Journal;2018

3. Takings and Tax Revenue: Fiscal Impacts of Eminent Domain;Review of Law & Economics;2016-01-01

4. Dignity and development;The Journal of Socio-Economics;2012-12

5. Government Takings: Determinants of Eminent Domain;American Law and Economics Review;2011-01-29

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