Morris Altman is currently Professor of Behavioural and
Institutional Economics and Dean of the Newcastle Business School at the University of Newcastle, Australia.
It is high time that policymakers look towards unconventional policy options of the likes of modern monetary policy, and a political economic and heterodox
institutional economics policy approach
Theories from the domain of new
institutional economics accentuate the importance of strong institutions in overall economic progress of a nation.
In our view, this clearly articulates a perspective of
institutional economics that emphasizes social embeddedness of economic behavior.
Institutional economics helps us understand, counter-intuitively, why this doomsaying actually helps make new technologies better.
David Lindsay (journalist and activist, Lanchester, County Durham); Professor Geoffrey Hodgson (Research Professor in Business Studies and Editor-in-Chief of the Journal of
Institutional Economics, University of Hertfordshire); Neil Clark (writer and broadcaster); James Draper (journalist and activist, Lanchester, County Durham)
This book provides a look at the economic history of ancient Egypt covering the entire pharaonic period, 3000-30 BCE, and employing a New
Institutional Economics approach to argue that the ancient Egyptian state encouraged an increasingly widespread and sophisticated use of writing through time, primarily in order to better document and more efficiently exact taxes for redistribution.
And political scientists, drawing on the New
Institutional Economics literature, have examined infrastructure investment in the developing world, evaluating the relations between endogenous institutions and private investment.
And he also sees limits in the way New
Institutional Economics and the varieties of institutional approaches might effectively explain his problem.
During the past decades, the theoretical and empirical work aligned with New
Institutional Economics sought to understand the factors that determine which transactions will run through the market and which will run within the firms.