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Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England
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In this article, the authors study the evolution of the constitutional arrangements in seventeenth-century England following the Glorious Revolution of 1688 and argue that the new institutions allowed the government to commit credibly to upholding property rights.Abstract:
The article studies the evolution of the constitutional arrangements in seventeenth-century England following the Glorious Revolution of 1688. It focuses on the relationship between institutions and the behavior of the government and interprets the institutional changes on the basis of the goals of the winners—secure property rights, protection of their wealth, and the elimination of confiscatory government. We argue that the new institutions allowed the government to commit credibly to upholding property rights. Their success was remarkable, as the evidence from capital markets shows.read more
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Comparative Economic Organization: The Analysis of Discrete Structural Alternatives
TL;DR: Williamson as discussed by the authors combines institutional economics with aspects of contract law and organization theory to identify and explicate the key differences that distinguish three generic forms of economic organization-market, hybrid, and hierarchy.
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International Norm Dynamics and Political Change
TL;DR: The authors argue that norms evolve in a three-stage "life cycle" of emergence, cascades, and internalization, and that each stage is governed by different motives, mechanisms, and behavioral logics.
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Increasing Returns, Path Dependence, and the Study of Politics
TL;DR: In this paper, the authors conceptualized path dependence as a social process grounded in a dynamic of increasing returns, and demonstrated that increasing returns processes are likely to be prevalent and that good analytical foundations exist for exploring their causes and consequences.
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The New Institutional Economics: Taking Stock, Looking Ahead
TL;DR: In this paper, the authors examine the progressive development of the new institutional economics over the past quarter century, distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of governance.
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The future of employment: How susceptible are jobs to computerisation?
TL;DR: In this paper, a Gaussian process classifier was used to estimate the probability of computerisation for 702 detailed occupations, and the expected impacts of future computerisation on US labour market outcomes, with the primary objective of analyzing the number of jobs at risk and the relationship between an occupations probability of computing, wages and educational attainment.
References
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Structure and Change in Economic History
TL;DR: The Structure and Change in Economic History as mentioned in this paper investigates the question of property rights in the context of economic systems, and outlines an economic theory of the state and the ideologies that undergird various modes of economic organization.
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Structure and Change in Economic History.
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The New Economics of Organization
TL;DR: The work of as discussed by the authors provides political scientists with an overview of the "new economics of organization" and explores its implications for the study of public bureaucracy, which is perhaps best characterized by three elements: a contractual perspective on organizational relationships, a theoretical focus on hierarchical control, and formal analysis via principal-agent models.
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The Industrial Organization of Congress; or, Why Legislatures, Like Firms, Are Not Organized as Markets
TL;DR: In this article, the authors provide a theory of legislative institutions that parallels the theory of the firm and contract theory of contractual institutions, and explain why, given the peculiar form of bargaining problems found in legislatures, specific forms of nonmarket exchange prove superior to market exchange.
Posted Content
British Historical Statistics
TL;DR: The reference book as mentioned in this paper provides the major economic and social statistical series for the British Isles from the twelfth century up until 1980–81, which is the successor of Abstract of British Historical Statistics and the Second Abstract of BHS.