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Download Individuals, Institutions, and Markets (Political Economy of Institutions and Decisions) epub

by C. Mantzavinos

Individuals, Institutions, and Markets offers a theory of how the institutional framework of a society emerges and how markets within institutions work. The book shows that both social institutions, defined as the rules of the game, and exchange processes can be analyzed along a common theoretical structure. Mantzavinos' proposal is that a problem solving model of individual behavior inspired by the cognitive sciences provides such a unifying theoretical structure. Integrating the latest scholarship in economics, sociology, political science, law, and anthropology, Mantzavinos offers a genuine political economy showing how social institutions affect economic outcomes.
Download Individuals, Institutions, and Markets (Political Economy of Institutions and Decisions) epub
ISBN: 0521548330
ISBN13: 978-0521548335
Category: Business
Subcategory: Economics
Author: C. Mantzavinos
Language: English
Publisher: Cambridge University Press; Second Edition edition (May 10, 2004)
Pages: 336 pages
ePUB size: 1184 kb
FB2 size: 1558 kb
Rating: 4.1
Votes: 863
Other Formats: mbr rtf lrf lrf

Many adjectives but all of them are true. I just finished the book and maybe I should have waited some time to write the review with all the novel ideas in my head. However, I feel obligated to do something in the face off the intellectual benefits I received reading this book.

Mantzavinos aims to provide a unified theory of institutions explained through a bottom-up approach. It is an ambitious goal but I think he succeeded too a large extent. He starts off with a description of the individual problem solving framework. This universal starting point building upon cognitive scientific foundations is able to overcome the divide between the opposed concepts of homo economicus and homo sociologicus. The inherent feature in human action to resolve problems (to get rid of uneasiness) on the microlevel is used to explain how (formal, informal: social norms, state, markets) institutions emerge. Mantzavinos draws on a wealth of different subjects, school of thoughts, and disciplines to make his case. He is very careful, structured, and reflective in the process and the reader, albeit challenged with the sheer amount of information, can follow easily. I made twelve pages of notes throughout the book and got many ideas and sources for my own research. Anybody who is even remotely interested in institutions, institutional change, informal institutions, morality, the limits of neo-classical economics, evolutionary theory, Austrian Economics, German Ordoliberalism or as he writes Wettbewerbstheorie will find it deeply rewarding reading this book.
This book is a novel analysis of how the institutions of a society emerge and how the markets within institutions work. It is an innovative contribution based on the recent advances in the cognitive sciences that will definitely become a classic in its field when digested by economists, sociologists, political scientists and the other social scientists that are interested in institutions.
Mantzavinos did an excellent job in putting the existing theries in perspective. Even though his "problem-solving" approach may appear very simple, it serves his purpose very well, especially in the topic of economic growth.