La struttura istituzionale della produzione *

1991 ◽  
Vol 9 (3) ◽  
pp. 163-173
Author(s):  
Ronald H. Coase
Keyword(s):  
Economic Theory ◽  
Transaction Costs ◽  
Market Economy ◽  
Government Regulation ◽  
Social Cost ◽  
Economic Planning ◽  
Invisible Hand ◽  
Eastern European ◽  
Eastern European Countries ◽  
Wealth Of Nations

Abstract During the two centuries following the publication of Adam Smith’s Wealth of Nations the economists’ main objective has been to improve his analysis and in particular his basic statement that government regulation and economic planning are not necessary for the functioning of an efficient economy, since the price system (the «invisible hand») can successfully coordinate the economy.However, the excessive attention to prices deviated research from other aspects of the economic system. Coase’s effort, through his articles on «The nature of the firm» (1937) and «The problem of social cost» (1960), was to introduce in the traditional economic theory some institutional elements. The contribution of the first article was essentially the introduction into economic analysis of transaction costs. In the second article it was shown that contracting in absence of transaction costs maximizes the wealth, quite apart from the assignment of property rights.The introduction of institutional elements can be very helpful for reforms in Eastern European countries, because market economy can only work through appropriate institutions.

The Mythology of the «Keynesian Crisis» or Where Is Keynes Calling Russia?

Vestnik NSUEM ◽  
2021 ◽  
pp. 22-34
Author(s):  
V. Z. Balikoev
Keyword(s):  
Economic Theory ◽  
Market Economy ◽  
Invisible Hand ◽  
Author State ◽  
State Capitalism ◽  
Free Competition ◽  
Relevant Today ◽  
Laissez Faire ◽  
Government Management ◽  
Development Of Economic Theory

The article analyzes and criticizes a vicious practice of the economists who attribute the ideas to the eminent economists who didn’t elaborate those ideas.The practice existed in the 19th and 20th centuries. It does exist today. It has done a huge damage to the development of economic theory and certain and specific economic sciences. Especially in the last century Keynesianism was at the receiving end since it clearly defined the watershed between the obsolete but die-hard «laissez-faire» economic theory – «invisible hand of the market»,free competition and government management of the economy.In this regard the economic theory constantly faces the question of certain «Keynesianism crisis», allegedly indicative of obsolescence of Keynesianism as economic theory.The article on the contrary proves that «Keynesianism crisis» is far-fetched and of ideological nature. Keynesianism itself is relevant today, more than ever, especially in the conditions of Russia, where, according to invincible belief of the author,state-directed market economy named state capitalism is being formed slowly and surely.

scholarly journals Niemiecka droga do demokracji i gospodarki rynkowej jako przykład dla państw Europy Wschodniej

2017 ◽  
pp. 123-135
Author(s):  
Martin Dahl
Keyword(s):  
World War Ii ◽  
Market Economy ◽  
Political System ◽  
European Countries ◽  
Soviet Bloc ◽  
Eastern European ◽  
Political Systems ◽  
World War ◽  
Eastern European Countries ◽  
Democratic Political System

The German experience with democracy and the market economy can be particularly valuable for other European countries for at least two reasons. Firstly, after World War II, the Germans effectively and permanently managed to enter the democratic political system based on the market economy. Initially, the economy was implemented only in the western part of the country and since 1990 all over the country. Secondly, after the collapse of the former Soviet bloc, Central European countries greatly benefited from German political solutions. This means that in favourable conditions, these experiences can be a valuable source of inspiration for other countries, especially those in Eastern Europe.This study is a result of research conducted in 2016 as part of the project ‘Germany and Russia in a multipolar international order. Strategic vision and potential alliances’ with the support of the Foundation for Polish-German Cooperation. It consists of four parts. Part I is an introduction to the issues analysed. Part II shows the genesis and characteristics of the democratic political system of Germany. Part III contains an analysis of the German experience with the implementation of the market economy. In Part IV, the author presents his conclusions of how and to what extent Eastern European countries can use the German experience in reforming their political systems and what conditions they would have to meet.

scholarly journals At the Origins of Neo-institutionalism: Ronald Coase

2021 ◽  
Vol 8 (4) ◽  
pp. 6-18
Author(s):  
R. Nureev
Keyword(s):  
Economic Theory ◽  
Environmental Pollution ◽  
Transaction Costs ◽  
Public Good ◽  
Market Economy ◽  
Legal System ◽  
Nobel Laureate ◽  
History Of ◽  
The Relationship ◽  
Comparative Description

The article contains the analysis of the views of the Nobel laureate in economics Ronald Coase (1910–2013) as the founder of neo-institutionalism. it provides a comparative description of the “old” and “new” institutionalism and shows the relationship and difference between neoclassicism and neo‑institutionalism. I analysed in detail the most famous articles of Coase and, first of all, “The Nature of the Firm” and “The Problem of Social Costs”. in these works, Coase showed that in the absence of transaction costs there is no economic novelty for the existence of a firm, in the second — that in the lack of transaction costs the legal system does not matter. With an exact specification of property rights, the market economy itself is able to cope with environmental pollution without resorting to government intervention, adjusting taxes and subsidies. The article shows the history of lighthouses in economic theory. Usually, the lighthouse is listed as a purely public good. Ronald Coase shows that even a public good — like lighthouses —was paid for by shipowners. The last part is devoted to essays on economics and economists.

Coase, Ronald H. (1910–)

2018 ◽  
Author(s):  
Brian H. Bix
Keyword(s):  
Economic Theory ◽  
Industrial Organization ◽  
Economic Analysis ◽  
Transaction Costs ◽  
Government Policy ◽  
Real World ◽  
Government Regulation ◽  
Law And Economics ◽  
Economic Analysis Of Law ◽  
Economic Thinking

Coase’s work reshaped the economic analysis of law and government policy, and began the law-and-economics movement. His writings, over the course of decades, have consistently emphasized the importance to clear economic thinking of observing actual practice. While economic theory had often been grounded on abstract models that assumed the absence of any costs for commercial transactions, Coase has shown how recognizing the pervasive presence of frequently substantial transaction costs in the real world requires rethinking established economic ideas about industrial organization and government regulation.

scholarly journals Management accounting practices in developing countries since the 1990s: the case of Poland

2018 ◽  
Vol 2018 (99 (155)) ◽  
pp. 119-148 ◽  
Author(s):  
Anna Szychta
Keyword(s):  
Developing Countries ◽  
Market Economy ◽  
Management Accounting ◽  
Empirical Studies ◽  
Institutional Factors ◽  
Economic Factors ◽  
Eastern European ◽  
Research Questions ◽  
Business Entities ◽  
Eastern European Countries

The aim of this paper is to identify the type of management accounting (MA) practices used in business entities surveyed in Poland, and to recognize the direction and factors of changes in MA methods and tasks in the al- most three decades of the dynamically developing market economy in Poland, after the change of the sociopolitical system at the turn of the 1980s and 1990s. The author answers several research questions based on a review of the previous literature and data obtained from three surveys conducted in 1999, 2005, and 2016. This study confirmed that the number of companies in Poland which have departments that carry out tasks in the area of MA/controlling has increased steadily. The research indicates that operational MA methods dominat- ed in enterprises between 2010–2015, just like in 2000–2005 and in the 1990s. It also found that in no more than 10% of the medium and large business entities which responded in 2016 are the methods of strategic MA used. In the first period of the development of the market economy in Poland, i.e., until 2004, many different economic and institutional factors influenced the introduction and change in MA practices, and in the next period, the respondents of the empirical studies pointed to economic factors as being more important. The paper contributes to the litera- ture on the development of MA in Central and Eastern European countries on the example of Poland.

Attitudes of heat plant managers as one of the key obstacles to district heating decarbonization in Poland

2018 ◽  
Vol 29 (7) ◽  
pp. 1116-1129
Author(s):  
Zbigniew Juroszek ◽  
Weronika Juroszek
Keyword(s):  
Energy Production ◽  
Social Cost ◽  
District Heating ◽  
False Belief ◽  
European Countries ◽  
Environmental Costs ◽  
Eastern European ◽  
Production Externalities ◽  
Eastern European Countries ◽  
Decarbonization Process

The decarbonization of district heating in Poland and other Central and Eastern European countries is disappointingly slow. One of the reasons is the lack of expertise in the field of external environmental costs among heat plant managers. The empiric research presented in the work shows that most of them chose coal because of the false belief that it is cheap, while in reality its social cost is high. Helping heat plant managers to improve their expertise in energy production externalities may change their attitudes and accelerate the district heating decarbonization process in that part of Europe. The goal seems to be realistic since the research proves that most heat plant managers are willing to progress in this field.

scholarly journals Der Übergang zur Marktwirtschaft – Ein soziokulturelles Problem

1994 ◽  
Vol 38 (1) ◽  
pp. 100-114
Author(s):  
Hans G. Nutzinger
Keyword(s):  
Economic System ◽  
Market Economy ◽  
The Other ◽  
European Countries ◽  
Economic Systems ◽  
Eastern European ◽  
Free Enterprise ◽  
Enterprise Development ◽  
Economic Decisions ◽  
Eastern European Countries

Abstract Hans Nutzinger describes the current complex of problems of the eastern european countries on their transition to market economy and points out, how far socio-cultural problems determine the conditions of transformation. The appropriate economic system seems to appear as a responsibility of organization, where as interdependence has tobe seen in a double sense: as an interdependence of all economic decisions, valuations and actions and, on the other hand, as an interdependence of economic systems as a whole. He deals with the topic how far a free-enterprise development depends on specific religious preconditions, but leaves the question - respecting the Iimits of the economic discipline - undecided

Ronald Coase's theory of the firm and the scope of economics

2014 ◽  
Vol 11 (2) ◽  
pp. 245-264 ◽  
Author(s):  
BRIAN J. LOASBY
Keyword(s):  
Economic Theory ◽  
Transaction Costs ◽  
Market Failure ◽  
Social Cost ◽  
Theory Of The Firm ◽  
Scarce Resource ◽  
Human Cognition ◽  
Competitive Industry ◽  
Theoretical Innovation ◽  
Use Of Knowledge

Abstract:Ronald Coase's work and its reception illustrate the significance – and the difficulty – of identifying problems and proposing solutions, which provides the theme of this paper. His theoretical innovation was not derived from economics, and seemed irrelevant to contemporary issues of economic theory and policy; only his much later perception of an apparently unrelated problem – the incoherent treatment of social cost as market failure – showed how the concept of transaction costs could illuminate two major areas of economics. The inadequate treatment by economists of the transaction costs of markets is linked to the neglect of processes, and especially the processes of organising the growth and use of knowledge – key concerns of Smith and Marshall. The curious relationship between Coase's explanation of firms and Austin Robinson's analysis of competitive industry leads to a reflection on the scarce resource of human cognition and the role (and fallibility) of institutions.

scholarly journals The Invisible Hand Made Visible: "The Birth-Mark"

1993 ◽  
Vol 48 (1) ◽  
pp. 44-73
Author(s):  
Cindy Weinstein
Keyword(s):  
Market Economy ◽  
Invisible Hand ◽  
Individual Agency ◽  
Authorial Identity ◽  
Industrial Labor ◽  
Aesthetic Ideology ◽  
Cultural Anxieties ◽  
Wealth Of Nations ◽  
A Site ◽  
The Invisible

Allegorical characters in Hawthorne's "The Birth-mark" function according to the logic of the market. Selves in this story are like territories that must continually be possessed and repossessed, and the birthmark becomes the site upon which characters fight one another for ownership, self-ownership, and identity. Aylmer views the circulations in Georgiana's bodily economy as signifying an independent self he wishes to control. The marked defines both the relations that characters have to each other and Hawthorne's own relation to his characters, especially Aylmer. Aylmer's desire to erase the birthmark figures his allegiance to the principles of the market economy, principles articulated in the famous invisible hand passage from Adam Smith's The Wealth of Nations. In contrast, the visibility of the birthmark functions as a sign of Hawthorne's literary labor and authorial identity. Hawthorne thus finds himself in the curious position of having created a character whose raison d'etre seems to be the erasure of Hawthorne's own identity. His competitive relation with Aylmer, however, is perfectly logical given that the competition of the market governs all relations in the story. Furthermore, the erasure of the birthmark needs to be read in the context of antebellum American aesthetic ideology. The literary taste that demanded the erasure of the signs of labor grew out of cultural anxieties about new forms of mechanized and specialized labor, and its perceived attack on individual agency. An aesthetic of invisible labor functioned to keep literature separate from the problematics of industrial labor and the developing market economy, and yet, in demanding that authorial agency remain absent, this aesthetic reproduced one of the most troublesome consequences of mechanized labor. Allegory in "The Birth-mark" is thus read as a site upon which authors and readers inscribe the changing relations between labor and identity.

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