Institutions, Institutional Change and Economic Performance
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Narrated by:
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Mike Chamberlain
About this listen
Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies.
Institutions exist due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation.
North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organizations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history.
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Story
Virtually all human societies were once organized tribally, yet over time most developed new political institutions which included a central state that could keep the peace and uniform laws that applied to all citizens. Some went on to create governments that were accountable to their constituents. We take these institutions for granted, but they are absent or are unable to perform in many of today’s developing countries—with often disastrous consequences for the rest of the world.
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Few forests, but lots of trees
- By Steve Pagano on 10-05-15
By: Francis Fukuyama
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The Mystery of Capital
- Why Capitalism Triumphs in the West and Fails Everywhere Else
- By: Hernando de Soto
- Narrated by: Bob Souer
- Length: 6 hrs and 52 mins
- Unabridged
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"The hour of capitalism's greatest triumph," writes Hernando de Soto, "is, in the eyes of four-fifths of humanity, its hour of crisis." In The Mystery of Capital, the world-famous Peruvian economist takes up one of the most pressing questions the world faces today: Why do some countries succeed at capitalism while others fail?
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Good global perspective on Capitalism
- By Nellie boi on 05-29-21
By: Hernando de Soto
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The Economics of Inequality
- By: Thomas Piketty, Arthur Goldhammer - translator
- Narrated by: L. J. Ganser
- Length: 4 hrs and 41 mins
- Unabridged
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Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.
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A Survey of the Economics of Inequality
- By Darwin8u on 12-19-16
By: Thomas Piketty, and others
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Sustainability
- A History
- By: Jeremy L. Caradonna
- Narrated by: Edoardo Ballerini
- Length: 8 hrs and 45 mins
- Unabridged
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Caradonna's unique and concise history broadens our understanding of what "sustainability" means, revealing how it progressed from a relatively marginal concept to an ideal that shapes everything from individual lifestyles, government and corporate strategies, and even national and international policy. For anyone seeking understand the history of those striving to make the world a better place to live, here's a place to start.
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Excellent
- By marc grub on 03-06-17
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The Great Leveler
- Violence and the History of Inequality from the Stone Age to the Twenty-First Century
- By: Walter Scheidel
- Narrated by: Joel Richards
- Length: 17 hrs and 31 mins
- Unabridged
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Are mass violence and catastrophes the only forces that can seriously decrease economic inequality? To judge by thousands of years of history, the answer is yes. Tracing the global history of inequality from the Stone Age to today, Walter Scheidel shows that inequality never dies peacefully. Inequality declines when carnage and disaster strike and increases when peace and stability return. The Great Leveler is the first book to chart the crucial role of violent shocks in reducing inequality over the full sweep of human history around the world.
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Content is not suitable for an Audiobook
- By Varun on 02-10-18
By: Walter Scheidel
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The Entrepreneurial State
- Debunking Public vs. Private Sector Myths
- By: Mariana Mazzucato
- Narrated by: Callie Beaulieu
- Length: 9 hrs and 33 mins
- Unabridged
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In this sharp and controversial international best seller, an award-winning economist debunks the pervasive myth that the government is sluggish and inept, and at odds with a dynamic private sector. She reveals in detailed case studies that the opposite is true: The state is, and has been, our boldest and most valuable innovator. Denying this history is leading us down the wrong path. A select few get credit for what is an intensely collective effort, and the US government has started disinvesting from innovation.
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Myth Breaker-a new model for innovation
- By Carl A. Gallozzi on 12-12-20
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Refuge
- Rethinking Refugee Policy in a Changing World
- By: Paul Collier, Alexander Betts
- Narrated by: Clive Chafer
- Length: 10 hrs and 25 mins
- Unabridged
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Refuge seeks to restore moral purpose and clarity to refugee policy. Rather than assuming indefinite dependency, Collier - author of The Bottom Billion - and his Oxford colleague Betts propose a humanitarian approach integrated with a new economic agenda that begins with jobs, restores autonomy, and rebuilds people's ability to help themselves and their societies.
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Academic
- By Jonah on 09-30-19
By: Paul Collier, and others
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The Decline and Rise of Democracy
- A Global History from Antiquity to Today
- By: David Stastavage
- Narrated by: Tom Perkins
- Length: 11 hrs and 34 mins
- Unabridged
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Historical accounts of democracy's rise tend to focus on ancient Greece and pre-Renaissance Europe. The Decline and Rise of Democracy draws from global evidence to show that the story is much richer - democratic practices were present in many places at many other times. David Stasavage makes the case that understanding how and where these democracies flourished - and when and why they declined - can provide crucial information not just about the history of governance, but about the ways modern democracies work and where they could manifest in the future.
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Informative
- By Frank on 12-22-20
By: David Stastavage
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The Future of the Professions
- How Technology Will Transform the Work of Human Experts
- By: Richard Susskind, Daniel Susskind
- Narrated by: John Lee
- Length: 12 hrs and 39 mins
- Unabridged
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This book predicts the decline of today's professions and describes the people and systems that will replace them. In an Internet society, according to Richard Susskind and Daniel Susskind, we will neither need nor want doctors, teachers, accountants, architects, the clergy, consultants, lawyers, and many others to work as they did in the 20th century.
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I Hope It's Not All True
- By John on 05-01-16
By: Richard Susskind, and others
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How Europe Underdeveloped Africa
- By: Walter Rodney, Angela Y. Davis - foreword
- Narrated by: Mirron Willis
- Length: 13 hrs and 21 mins
- Unabridged
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Guyanese intellectual Walter Rodney emerged as one of the leading thinkers and activists of the anticolonial revolution. In 1980, shortly after founding of the Working People's Alliance in Guyana, the 38-year-old Rodney would be assassinated. In his magnum opus, Rodney incisively argues that grasping "the great divergence" between the West and the rest can only be explained as the exploitation of the latter by the former. This meticulously researched analysis of the repercussions of European colonialism in Africa remains an indispensable study for grasping global inequality today.
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A Superb must read for everyone
- By Joy on 04-16-19
By: Walter Rodney, and others
What listeners say about Institutions, Institutional Change and Economic Performance
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- Philo
- 01-25-20
The parts of a high-functioning society, mapped
This work is brilliant. It is a model of clarity. Do you want to have a practical understanding of economics, game theory, law, politics? Of when and where we can trust others, and what structures we need to do so? There are tight, compact explanations here. This is built from a bottom-up foundation, from the deals up to the big structures, i.e., is micro-economic. It is built around the actual structures (rules, customs, parts of government and business), that is, "institutions," through which we deal, and our society and dealings work (or don't). So, I think, it is called "new institutional" economics. Around this work, North won the 1993 Nobel Memorial Prize in Economic Sciences. It builds on the work of towering genius Ronald Coase, famous for transaction-cost economics, with whom this author worked. As a professor in Business Law for about 35 years now, I have never seen the under-girding logic of law and society so lucidly explained as it is here. The insights just follow on up-on another the whole time.
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