Institutions, ideology, and economic performance

Article Abstract:

Social institutions and the prevailing ideologies of the people make a significant contribution to the economic performance of the country. Social institutions are comprised of rules, informal limits and other variables that constrain production and marketing costs. Similarly, ideology serves as the framework for individual economic decisions and consumer patterns. Hence, institutions which provide low-cost measurement and enforcement of contracts would give rise to efficient markets. Adapting foreign economic models would not work because institutions and ideology should be factored in to create a realistic economic reform program.

Social institutions

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Systemic change: the delicate mixture of intentions and spontaneity

Article Abstract:

The Prime Minister of the Czech Republic feels that the transformation from communism to democracy involves three stages containing both intentional and unintentional steps. The first stage is the spontaneous break down of old rules and the intentional freeing of the political rules. In the second stage stabilization and further privatization are necessary to continue the process as the expectations of the citizens are not realized. At the final stage the economic and political structure in the country is weak and freedom has to be given to the citizens to continue the development

Eastern Europe, Democracy

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Politics as the art of confined compromise: a comment on Boudreaux and Lee

Article Abstract:

A critique is presented on the effects of expressive voting on socioeconomic issues. It is argued that expressive voting, defined as individuals voting to express their values and concerns, is an inefficient foundation for attempting to predict socioeconomic outcomes.

International, Reports, Voting, Voting research

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