Topic
Economic problem
About: Economic problem is a research topic. Over the lifetime, 3081 publications have been published within this topic receiving 66346 citations. The topic is also known as: fundamental economic problem & basic economic problem.
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TL;DR: In this paper, it was pointed out that many of the current disputes with regard to both economic theory and economic policy have their common origin, it seems to me, in a misconception about the nature of the economic problem of society.
Abstract: Many of the current disputes with regard to both economic theory and economic policy have their common origin, it seems to me, in a misconception about the nature of the economic problem of society. This misconception in turn is due to an erroneous transfer to social phenomena of the habits of thought we have developed in dealing with the phenomena of nature.
8,226 citations
Book•
01 Jan 1981
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.
Abstract: At the core of Professor North's investigation is the question of property rights, the arrangements individuals and groups have made through history to deal with the fundamental economic problem of scarce resources. In six theoretical chapters, Professor North examines the structure of economic systems, outlines an economic theory of the state and the ideologies that undergird various modes of economic organization, and then explores the dynamic forces such as new technologies that cause institutions to adapt in order to survive. With this analytical framework in place, major phases in Western history come under careful reappraisal, from the origins of agriculture and the neolithic revolution through the political economy of the ancient and medieval worlds to the industrial revolution and the economic transformations of the twentieth century. Structure and Change in Economic History is a work that will reshape many established explanations of the growth of the west.
4,585 citations
TL;DR: In this article, the authors studied the extent to which the entrepreneur interacts with the networks in his local environment during the process of starting a new firm, based on the premise that, during this process, he is seeking not only the resources of equipment, space, and money, but also advice, information, and reassurance.
1,780 citations
TL;DR: This paper reviewed a wide range of recent attempts in both economics and political science to explain the "resource curse" and found that much has been learned about the economic problems of resource exporters but less is known about their political problems.
Abstract: How does a state's natural resource wealth influence its economic development? For the past fifty years, versions of this question have been explored by both economists and political scientists. New research suggests that resource wealth tends to harm economic growth, yet there is little agreement on why this occurs. This article reviews a wide range of recent attempts in both economics and political science to explain the “resource curse.” It suggests that much has been learned about the economic problems of resource exporters but less is known about their political problems. The disparity between strong findings on economic matters and weak findings on political ones partly reflects the failure of political scientists to carefully test their own theories.
1,690 citations
Posted Content•
TL;DR: In this paper, the authors summarize the essential features of this line of research, examine some of its important areas of application, and discuss the promise the approach holds for improved understanding of economic problems.
Abstract: AS CRITICISM of the traditional theory of production and exchange has mounted in the postwar period, increasing attention has been given to new analytical approaches that seek either to supplant classical marginalism or to extend its scope. In the latter category is the important body of literature that has grown up around the notion of property rights structures. The contributions here are quite diverse in style and content but are characterized by a common emphasis on certain basic ideas concerning the interconnectedness of ownership rights, incentives, and economic behavior. The purpose of the present paper is to summarize the essential features of this line of research, examine some of its important areas of application, and discuss the promise the approach holds for improved understanding of economic problems.
1,076 citations