Why Regulate Utilities?: The New Institutional Economics and the Chicago Gas Industry, 1849-1924, and: Gas Pipelines and the Emergence of America's Regulatory State: A History of Panhandle Eastern Corporation, 1928-1993 (review)

1998 ◽  
Vol 39 (4) ◽  
pp. 797-799
Author(s):  
Robert C Means
Keyword(s):  
Institutional Economics ◽  
New Institutional Economics ◽  
Gas Pipelines ◽  
Regulatory State ◽  
Gas Industry ◽  
History Of

scholarly journals Institutional Economics: Then and Now

2001 ◽  
Vol 15 (3) ◽  
pp. 173-194 ◽  
Author(s):  
Malcolm Rutherford
Keyword(s):  
Political Science ◽  
Institutional Economics ◽  
New Institutionalism ◽  
New Institutional Economics ◽  
Significant Element ◽  
History Of

This article gives a history of American institutionalism, and a brief comparison with the more recent “new” institutional economics. Institutionalism was a significant element in American economics between the Wars, but declined rapidly thereafter. The article outlines the movement's initial appeal, its contributions, and the reasons for its decline. Although the “new” institutionalism has few direct ties to the older tradition, some interesting commonalities are found and discussed. Links to the “new institutionalism” in sociology and political science, and to historical work on other “institutional” traditions are also mentioned.

scholarly journals Suchard and the Emergence of Traveling Salesmen in Switzerland, 1860–1920

2008 ◽  
Vol 82 (4) ◽  
pp. 735-759 ◽  
Author(s):  
Roman Rossfeld
Keyword(s):  
Vertical Integration ◽  
Market Research ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Social Image ◽  
Economic Significance ◽  
Production And Distribution ◽  
History Of ◽  
Product Sales ◽  
Critical Link

Based on theoretical findings of the new institutional economics, this examination of the history of the Swiss chocolate company Suchard (founded in 1826) and the Verband Reisender Kaufleute der Schweiz (Association of Swiss Commercial Travelers) describes the economic significance, social image, and everyday life of traveling salesmen between 1860 and 1920. By 1900, commercial travelers formed a critical link between the enterprise and the market, helping to drive the vertical integration of production and distribution. They enjoyed high standing within the company, and many were promoted to executive levels. Traveling salesmen were largely responsible for procuring information and expanding product sales in an era that preceded specialized market research and the domination of advertising companies.

Gas Pipelines and the Emergence of America's Regulatory State: A History of Panhandle Eastern Corporation, 1928-1993.

1998 ◽  
Vol 84 (4) ◽  
pp. 1544
Author(s):  
Roger M. Olien ◽  
Christopher J. Castaneda ◽  
Clarance M. Smith
Keyword(s):  
Gas Pipelines ◽  
Regulatory State ◽  
History Of

scholarly journals History of the institutionalist paradigm: main stages and characteristics

2019 ◽  
Vol 2019 (52) ◽  
pp. 49-71
Author(s):  
Ostap Salovskyi
Keyword(s):  
Political Institutions ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Economic Thought ◽  
Industrial Transformation ◽  
Theoretical Concepts ◽  
Legal Norms ◽  
History Of ◽  
Main Components ◽  
Methodological Considerations

The article deals with a retrospective and prospective analysis of the economic thought development within the institutionalist approach. The purpose of the research is to conduct a theoretical and methodological investigation of the history of institutionalism from its origin to the present, identify the main components of the institutionalist paradigm and pinpoint directions of its further research. The author highlights socio-economic conditions for the appearance and growth of institutionalism. The paper also features main scientific and methodological achievements of old institutionalists, namely, T. Veblen, J. Commons, and V. Mitchell. In addition, it substantiates the composition and evolution stages of the institutionalist paradigm. In the subsequent sections, the article provides a brief overview of the institutionalist theories of capitalism and industrial transformation in the 1930s–1980s. Moreover, the peculiarities of scientific concepts of the new institutional economics are revealed, in particular, the findings by R. Coase, A. Alchian, G. Demsetz, O. Williamson, J. Buchanan, D. North. The study refutes the disappearance of interest in the old institutionalism of Veblen, Commons, and Mitchell after the 1930s and emphasizes the peculiarities of its development, revival, and coexistence with new institutional economics in the 1980s–2000s. The article also focuses on the methodology and theoretical concepts of the new wing of old institutionalism, namely, of W. Samuels, J.R. Stanfield, W. Dugger, and G. Hodgson. In addition, it also outlines the post-nonclassical nature, heterogeneity, stability, and adaptability of the institutionalist paradigm. A number of common features and clear criteria for attributing the theories to the paradigm were identified. The theoretical and methodological interests of the institutionalist research in the 21st century are presented, in particular, as to the differences in economic development of countries, quality of legal norms, correlation of institutions and culture, peculiarities of elections and political institutions, relationships of individuals and groups, social capital issues, etc. The results of this study are important for a proper understanding of the fundamentality of the institutionalist approach, as well as for the correct interpretation of particular theories or methodological considerations.

Introduction

2016 ◽  
Author(s):  
Adam Teller
Keyword(s):  
Eighteenth Century ◽  
Social Status ◽  
Economic Activity ◽  
Economic History ◽  
Institutional Economics ◽  
Cultural Factors ◽  
New Institutional Economics ◽  
Financial Success ◽  
The Family ◽  
History Of

The book makes three main interventions. First is the use of Jewish economic history to understand both the development of Jewish society and its relations with the surrounding world. The methodology of New institutional economics, emphasizing the connection between economic and cultural factors, is employed. Second is the study of the Jews’ economic roles in the specific context of magnate estates in eighteenth-century Poland-Lithuania. In this late feudal setting, Jews achieved enormous financial success, which they translated into improved social status and even power. This process is at the heart of the analysis here. Third is the history of the Radziwiłł family and its estates in Lithuania. From a low point at the beginning of the period, the family reached the pinnacle of its power at the end. This rise was based on increased estate incomes, the importance for which of Jewish economic activity is examined here.

The Private Credit Market, the Bibliotheke Enkteseon, and Public Services in Roman Egypt

2012 ◽  
Vol 67 (04) ◽  
pp. 629-659 ◽  
Author(s):  
François Lerouxel
Keyword(s):  
Economic History ◽  
Public Services ◽  
Institutional Economics ◽  
Credit Market ◽  
New Institutional Economics ◽  
Roman Egypt ◽  
History Of ◽  
Private Credit ◽  
Positive Effect

This article examines the history of the private credit market in Roman Egypt between 30 BCE and approximately 170 CE. After examining how the notion of the market and the New Institutional Economics are employed with regard to ancient economic history, it explains the positive effect that systems of drafting and registering contracts had on the private credit market and, in particular, the role of the bibliotheke enkteseon, created by the Roman administration between 68 and 72. The article concludes with an explanation of how this institution was created by analyzing the interaction between the private credit market and the way public services were financed in the Roman world.

Why Regulate Utilities? The New Institutional Economics and the Chicago Gas Industry, 1849-1924

1998 ◽  
Vol 39 (4) ◽  
pp. 797
Author(s):  
Robert C. Means ◽  
Werner Troesken ◽  
Christopher J. Castaneda ◽  
Clarance M. Smith
Keyword(s):  
Institutional Economics ◽  
New Institutional Economics ◽  
Gas Industry

scholarly journals Social capital, ‘trust’ and the role of networks in Julfan trade: informal and semi-formal institutions at work

2006 ◽  
Vol 1 (3) ◽  
pp. 383-402 ◽  
Author(s):  
Sebouh Aslanian
Keyword(s):  
Social Capital ◽  
Institutional Economics ◽  
Social Capital Theory ◽  
New Institutional Economics ◽  
Long Distance ◽  
Historical Explanation ◽  
Capital Theory ◽  
History Of ◽  
The Subject

This essay examines the role of ‘trust’ and cooperation in early modern long-distance trade. While most literature on the subject posits trust as a given attribute of long-distance merchant communities and not as a factor in need of historical explanation or analysis, this essay seeks to provide a historical explanation for the creation and role of trust in such communities. It focuses on the history of Armenian merchants from New Julfa, Isfahan, during the seventeenth and eighteenth centuries. The central theoretical model this essay relies upon to explain trust among Julfan Armenian merchants derives from ‘social capital’ theory as elaborated in sociology and economic sociology, as well as theory from the New Institutional Economics associated with the influential work of Avner Greif. Unlike the latter body of work, however, this essay argues that Julfan trust must be understood not solely as an outcome of informal institutions such as reputation-regulating mechanisms discussed by Greif in his work on Maghribi Jews of the medieval period, but also as a result of the simultaneous combination of both informal and semi-formal legal institutions. In the Julfan context, the essay thus focuses on a merchant arbitrage institution known as the Assembly of Merchants, which enabled Julfan merchants to generate and maintain trust, trustworthiness and uniform norms necessary for collective action and cooperation.

scholarly journals The evolution of the Nile regulatory regime: a history of cooperation and conflict

Water History ◽  
2021 ◽  
Author(s):  
Ahmed Tayia ◽  
Antonio Ramos Barrado ◽  
Fernando Alonso Guinea
Keyword(s):  
Institutional Economics ◽  
Analytical Framework ◽  
New Institutional Economics ◽  
Regulatory Regime ◽  
Past Century ◽  
Nile Basin ◽  
Playing Field ◽  
History Of ◽  
Annual Water ◽  
Major Factors

AbstractThe objective of this study is to trace the historical evolution of the present Nile Basin regulatory framework and examine its influence on the current interactions among Nile riparian states. This research adopts a case-study design, with in-depth qualitative analysis of the Nile Basin as an example of the complex transboundary relations over shared waters. It uses an analytical framework derived from the New Institutional Economics (NIE) to analyse the evolution of the institutional framework that has governed the Nile basin and how it affected the annual water share allocated to each riparian country. The study argues that the historical beliefs and social norms of the riparian societies have been among the major factors that influenced the cooperation attempts during the past century and determined their outcomes. Therefore, a prerequisite to develop sustainable cooperation is levelling the playing field by addressing the beliefs and norms that have prevented cooperation while identifying the beliefs that can support cooperation.

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