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New PDF release: A Modern Reader in Institutional and Evolutionary Economics:

By Geoffrey M. Hodgson, ed.

ISBN-10: 1840644745

ISBN-13: 9781840644746

Within the Nineties, institutional and evolutionary economics emerged as some of the most artistic and profitable techniques within the sleek social sciences. This reader gathers jointly contributions from top overseas authors within the box of institutional and evolutionary economics together with Eileen Appelbaum, Benjamin Coriat, Giovanni Dosi, Sheila C. Dow, Bengt-Ake Lundvall, Uskli Maki, Bart Nooteboom and Marc R. software. The emphasis is on key strategies similar to studying, belief strength, pricing and markets,with a few essays dedicated to method and others to the comparability of alternative sorts of capitalism.

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Extra info for A Modern Reader in Institutional and Evolutionary Economics: Key Concepts (In Association With the European Association of Evolutionary Political Economy (EAEPE).)

Example text

As a legal person in the eyes of the law, it has legal-entity status and standing; it can sue and be sued. Ownership is nominally ‘private’ but private owners’ discretion may or may not be a viable instrument of attaining and retaining control. In most megacorps, through fragmentation and wide dispersion of shares, discretion for ordinary stockholders may well be limited to a passive claim to dividends. Ownership is dispersed; control is concentrated, as Veblen observed (1904) and Adolf Berle and Gardiner Means demonstrated (1932).

1975b), The Roots of Inflation, New York: Burt Franklin, pp. 152–4. Munkirs, John R. E. Sharpe. Munkirs, John R. and James I. Sturgeon (1985), ‘Oligopolistic cooperation: conceptual and empirical evidence of market structure evolution’, Journal of Economic Issues, 19(4), December, pp. 899–921. Okun, Arthur M. (1979), ‘An efficient strategy to combat inflation’, Brookings Bulletin, 15(1), Spring, pp. 1–5. Okun, Arthur M. (1981), Prices and Quantities, Oxford: Basil Blackwell. Robinson, Joan (1933), The Economics of Imperfect Competition, London: Macmillan.

The megacorp may be a recipient of public largess through subsidies (including tax expenditures), trade protections, public education of its employees and, at times, mandated exemption status to regulations (pollution controls, safety standards) and the like. In their unique concerns with price determination, in a typically oligopolistic organization, the corporation’s price setters do not necessarily have an easy time of it (Hamilton, 1974, essay no. 3). They must, of course, set prices which cover their continuing costs of materials and labour, and a mark-up margin to generate the pecuniary options which residual balances provide.

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A Modern Reader in Institutional and Evolutionary Economics: Key Concepts (In Association With the European Association of Evolutionary Political Economy (EAEPE).) by Geoffrey M. Hodgson, ed.


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