This article, in Journal of Institutional Economics, tries to advance the understanding of institutional economics by critically examining the currently dominant discourse o institutions and economic development. The article argues that the discourse suffers from theoretical problems - its neglect of causality running from development to institutions; its inability to see the impossibility of a free market; its belief that the freest market and the strongest protection of private property rights are best for economic development; and its poor understanding of changes within institutions themselves. Click here to access the article.
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