Mardi 10 octobre 2006
2
10
10
2006
09:53
Economic Performance Through Time
Comme j'ai du faire cette merde et qu'enplus j'en suis bien content!! j'ai pas eu le temps d'écrire grand chose ...dc voila je vous donne un extrais de cette connerie. Sinon oui je vais bien !!!oui oui . Dois y avoir pas mal de fotes mais pas grave.
This article discusses links between institutions, times and economic growth on the basis of many approaches like the theory of Ronald Coase, links between institutions and organizations and cognitive sciences.
We have seen in the former articles presented in lectures n°2 and n°3, that evolutionary economy differs from the neo-classical economy. To analyze “economic performance through time” it is necessary to use an analytical framework based on economic dynamics. Extended versions of the neoclassical model had been used to explain the performance of economies, the growth in the short and medium-term. However theses frameworks are often inappropriate to have a better understanding of the rules in economical development.
The purpose of this article is to set up frameworks that enable to have a better “understanding of the historical evolution of economies” and a better description of the economical development phenomena.
Institutions play a prominent role in economic performance. Indeed, society and particularly economies are defined by many constrains (formal, informal and enforcement), that bring out the relationships between humans. Institutions represents these constrains. A very large share of the phenomenon which occurs in economic growth can be explained by the quality of the shared rules, the “institutions”, which coordinate individuals. Furthermore the impact of historical influences in shaping institutions and subsequent patterns of economic development is significant.
These rules can be represented, for example, by the rules that the government set up. In fact, high taxes can limit individuals to access the incomes of their labour and thus inhibit the capacity of work, of innovation, of creativity and therefore the economic growth. One of the famous examples of the relationship between institutional rules and economic growth can be also the fact that a volatile inflation rates can distort prices and finally erode the economic growth.
To have a better understanding of the leverage of relationships between humans in economic growth, Ronald Coase gives a relevant framework to understand the “connection between institutions, transaction costs and neoclassical theory”. With the concept of “transaction costs” we have a better understanding of this relation. Si tu es arrivé à lire jusque là tu es courageux, tu as donc le droit à la surprise, il suffit juste de m'envoyer un mail avec comme sujet la mouche qui pete! et tu auras une surprise en retour.The behaviours of the actors in an economic environment are well defined with the concept of Coase (information, property rights, efficient or non-efficient market, and competition).
For North, Douglas C. economic change is a ubiquitous process that is a consequence of the choices individual actors and entrepreneurs of organizations are making every day. There are two types of decisions: routines decisions and decisions that alter existing “contract”. In this context is also relevant to analyze the relationships between institutions that are the framework in which the actors (organisation) evolve and to have a better view of the “making-decision” process.
Furthermore to have a better understanding of the “making-decision process”, cognitive sciences present a good concept. Cognitive sciences enable to understand how human learning takes place, which is a very important point in “making-decision” process. We notice that this concept is exactly on the same line as the path dependence. It proves that there is a powerful influence of the historical facts on the economic growth.