The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

This paper analyzes trust and power as means of co-ordinating trans-organizational relationships. It is argued that, depending on the institutional environment, there are two distinct patterns of controlling relationships, where trust and power are interrelated in quite different ways. First, both mechanisms are generated at the inter-personal level and either trust or power dominates the relationship. Second, power occurs at the level of the structural framework of relationships and is highly conducive to developing trust between individual organizations. Thus, specific forms of trust and power are identified and the institutional environment is viewed as playing a crucial role in shaping the quality of trans-organizational relations. The theoretical background of the paper mainly draws on conceptual ideas of Systems Theory, Structuration Theory and New Institutionalism

Trust, Power and Control in Trans-Organizational Relations. Working Paper WP 129 (6/99)

http://oru.diva-portal.org/smash/get/diva2:1304706/FULLTEXT01

The public value of E-Government – A literature review

Towards a multidimensional model for evaluating electronic government: Proposing a more comprehensive and integrative perspective

What followers are saying about transformational leaders fostering employee innovation via organisational learning, knowledge sharing and social media use in public organisations?

Jianwei Liu

Papers

Evaluating IT innovations in a business-to-government context: A framework and its applications

Using IT to engender trust in government-to-business relationships: The Authorized Economic Operator (AEO) as an example