By Geoffrey M. Hodgson, ed.
Within the Nineteen Nineties, institutional and evolutionary economics emerged as some of the most artistic and winning techniques within the smooth 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. device. The emphasis is on key suggestions comparable to studying, belief strength, pricing and markets,with a few essays dedicated to method and others to the comparability of other varieties of capitalism.
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Additional resources for A Modern Reader in Institutional and Evolutionary Economics: Key Concepts (In Association With the European Association of Evolutionary Political Economy (EAEPE).)
Blair, John M. (1976), The Control of Oil, New York: Pantheon. Bush, Paul Dale (1987), ‘The theory of institutional change’, Journal of Economic Issues, 21(3), September, pp. 1075–116. Reprinted in Geoffrey M. ) (1993), The Economics of Institutions, Aldershot: Edward Elgar. Chamberlin, Edward H. (1933), The Theory of Monopolistic Competition, Cambridge, MA: Harvard University Press. Dugger, William M. ) (1989), Corporate Hegemony, Westport, CN: Greenwood Press. Eichner, Alfred S. (1976), The Megacorp and Oligopoly: Micro Foundations of Macro Dynamics, Cambridge and New York: Cambridge University Press.
Prices must be set low enough to ensure adequate expanding sales. They must accommodate to existing price elasticities. Otherwise growth and its benefits for the technostructure cannot be realized. Roughly uniform prices will be commonplace in an industry. If there is a dominant firm, the technostructure of that firm will serve as price leader and its affirmative purposes and protective patterns will serve as the model for the industry. Given the complexity and interdependencies of the pricing patterns set, the intent is to leave most prices unchanged for an extended period of time.
54). With Veblen, then, we get an early characterization of a corporate-dominated, administered-price, industrial economy. Walton Hale Hamilton In the published writings of the distinguished lawyer and economist, Walton Hamilton, which cover more than 40 years, are to be found some of the most penetrating and significant analyses of the emergent corporate economy. In analysis less sardonic and somewhat more empirically grounded than Veblen, Hamilton explores the evolutionary transformation of the locus and use of economic power by corporations in labour relations and wage-setting (Hamilton and May, 1923), in the use of patents and their protection (Hamilton, 1957, pp.