Title variants
INSTITUTIONALISM AND ITS IMPORTANCE IN THE ANALYSIS OF DIVERSITY OF ECONOMIC ACTIVITY AND CAPITALIST ECONOMY
Languages of publication
Abstracts
The literature on economic development pays lot of attention to the success of Asian economies. Much of this interest rises on the awareness that they are built on different organizational frameworks than economies from the Western countries. At a macroeconomic level, conditions in world markets have been identified as factors prompting new types of organizational forms. Trying to understand the complexity of economic activity, the literature points out to a network theory and perspective about capitalism and its social and differentiated character. Such an outlook deviates from the view that sees an “end of history” with western liberal capitalism. Economies, rather than converging, exhibit many varieties of capitalism, with much of the difference arising from the way in which businesses relate to one another and from the cultural and institutional context. Traditionally, economists have tended to exclude social and cultural factors from their analyses. However, the economic process is also a socio-cultural one, and institutions are central to the socio-cultural construction of the economy. The article expands theoretically the macrobackground of the network understanding by analyzing approaches to institutionalism and claims that the form and evolution of the economic landscape cannot be fully understood without giving due attention to the various social institutions on which economic activity depends and through which it is shaped.
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Year
Volume
Pages
61-79
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Contributors
author
References
Document Type
Publication order reference
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YADDA identifier
bwmeta1.element.cejsh-5fbedc6e-4388-42e7-b480-588821c6e7ec
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