Institutional Economics |
اقتصاد نهادی |
The emerging study of institutional economics.
The concept of "government failure" arose in the 1980s. It is not concerned with criticism of government regulations. Rather, it seeks to describe "government failure" along similar lines as the idea of "market failure."
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It's not how much rent you pay for your apartment. Rent-seeking, in the words of The "
Economist" is:
Cutting yourself a bigger slice of the cake rather than making the cake bigger. Trying to make more money without producing more for customers.
"The Cake", here, of course, refers to collective resources or benefits.
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Here is a draft
vision statement for "Institutional Frameworks":
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