Institutional diversity and the economic calculation debate : the feasibility issue revisited / Paul Dragos Aligica, Adrian Miroiu.

Format:

Book

Author/Creator:

Aligică, Paul Dragoș, author.

Miroiu, Adrian, author.

Series:

Cambridge elements. Elements in Austrian economics, 2399-651X.

Cambridge elements. Elements in Austrian economics, 2399-651X

Language:

English

Subjects (All):

Institutional economics.

Austrian school of economics.

Physical Description:

1 online resource (71 pages) : digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

Cambridge : Cambridge University Press, 2025.

Summary:

This Element brings together the problems of economic calculation, institutional diversity, and institutional feasibility, arguing that these themes are deeply interconnected and mutually reinforcing. Building on recent developments in institutional theory, political economy, social philosophy, and logical analysis, the Element revisits the classic debates surrounding alternative economic and governance systems. The discussion is organized around three core elements: (1) an overview of recent developments in institutional theory and social philosophy, that driven by technological advances have revitalized debates on alternative economic and governance systems; (2) a reexamination of the economic calculation debate, tracing its evolution from Austrian economics to a broader theoretical synthesis incorporating institutional political economy and conflict theory; and (3) a discussion of the formal, logical, and philosophical foundations for thinking about feasibility and realizability, offering analytical tools for evaluating the plausibility of institutional alternatives within specific historical and social contexts.

Contents:

Cover

Title page

Imprints page

Institutional Diversity and The Economic Calculation Debate: The Feasibility Issue Revisited

Contents

1 Introduction

2 Institutional Diversity, Institutional Feasibility, and the Challenge of Possibilism

2.1 The Institutional Revolution and a Relatively Unexpected Turn

2.2 General Theory and Institutional Design

2.3 Possibilism and the Feasibility Challenge

3 Institutional Structure and Performance: Comparative Economic Systems, Institutional Analysis, and the Endogenization of Feasibility

3.1 The Comparative Economic Systems Framework

3.2 The Institutional Analysis and Development (IAD) Framework

3.3 The Endogenization of Feasibility

3.4 Conclusions

4 The Economic Calculation Debate Revisited: Exchange, Rivalry, and Institutions

4.1 The Communist Experiment and the Feasibility Issue

4.2 The Economic Calculation Debate: An Overview

4.3 The Debate: First Order Observations

4.4 The Institutional Turn

4.5 Rivalry: Insights and Implications

4.6 Rivalry, Exchange, and Institutional Structures

4.7 A Compounded Theoretical Apparatus

4.8 Conclusions

5 The Feasible: Conceptualization and Formalization at the Boundaries of Ideal Theory

5.1 Desirable, Realizable, and Feasible and the Koopmans-Montias Framework

5.2 Approaching Feasibility

5.3 The Semantical Approach

5.4 The Grammar of Feasibility

5.5 Desirability and the Ideal Theory

6 Conclusions

References.

Notes:

Title from publisher's bibliographic system (viewed on 18 Jul 2025).

Includes bibliographical references and index.

Description based on publisher supplied metadata and other sources.

ISBN:

1-009-67744-6

1-009-67746-2

1-009-67743-8

OCLC:

1574118942