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A New Institutional Approach to Economic Development

Edited by Satu Kahkonen and Mancur Olson, Vistaar, 2001, 353 p, ISBN : 8170369924, $52.00 (Includes free airmail shipping)

A New Institutional Approach to Economic Development/edited by Satu Kahkonen and Mancur Olson

Contents: Preface. I. A broader, brighter approach to economics and societies: Introduction: the broader view/Mancur Olson and Satu Kahkonen. 1. Big bills left on the sidewalk: why some nations are rich, and others poor/Mancur Olson. 2. Innovation and its enemies: the economic and political roots of technological inertia/Joel Mokyr. 3. Economic institutions and development: a view from the bottom/Oliver E. Williamson. 4. Dictatorship, democracy, and development/Mancur Olson. 5. Overstrong against thyself: war, the state, and growth in Europe on the eve of the industrial revolution/J. Bradford De Long. 6. The Swedish model: a comment on Mancur Olson’s analysis/Erik Moberg. 7. Affirmative action and reservations in the American and Indian labor markets: are they really that bad?/Edward Montgomery. 8. Communities and development: Autarkic social groups and the economy/Russell Hardin. 9. Law from order: economic development and the jurisprudence of social norms/Robert D. Cooter. 10. The nature of institutional impediments to economic development/Pranab Bardhan. II. Applications to India: 11. Institutional impediments to economic development in India/Raja J. Chelliah. 12. Economic development in India: the need for institutional reform/Anup Sinha. 13. Economic development from a division of labor perspective/Axel Leijonhufvud. 14. The cost of regulation in India: evidence from the industrial sector/Brian Fikkert. 15. Cooperation, conflict and economic development in India: an analysis of the farmers’ movement/Anand Swamy. 16. Public finance in India: theory and fact/Raja J. Chelliah. Index.

"Many of economics’ recent successes have been outside the traditional boundaries of the discipline. Modern economics has had a deep influence on thinking in other social sciences leading to the theoretical integration of all the social sciences under an overarching paradigm. This important volume illustrates the intellectual advances that account for this unified view of economies and societies. The editors and contributors discuss and analyze the interaction between political, economic, legal and social forces with examples from both developing and developed countries.

"Part I of the book focuses on issues that are fundamental and important in any country, while Part II contains applications of this approach to India. The contributors variously discuss the political influence of corruption and social interest groups, the organizational structure of a government, the effects of commercial law, and the differences between communities with high and low social fragmentation.

"All these affect and are affected by economic conditions. In the study of politics, for example, economists and political scientists using methods drawn from economics have had an extraordinary influence. In the study of low, ideas from economics have been the single most important source of intellectual change as a result of which "law and economics" has become a major field. In history, the quantitative and theory- inspired approach of economics has had a profound influence. And economics has influenced sociology through "rational choice sociology" and economists’ studies of demography, the family, and crime. In short, so fundamental and wide-ranging has been this influence that it may be concluded that economics is at the forefront of the movement toward a unified social science.

"This extremely lucid and comprehensive volume will be of interest to students of economics, political science, sociology, policy studies and social and economic development."

[Satu Kahkonen is with the World Bank, Washington D.C.]

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