Similarities and Dissimilarities between Original Institutional Economics and New Institutional Economics

Original Institutional Economics and New Institutional Economics display several similarities. However, differences in methodology and normative stance are too big to reconcile both approaches. Both approaches may keep each other sharp

Theory and Reality of Cryptocurrency Governance

I analyze cryptocurrency ecosystems with Elinor Ostrom’s meta-framework for self-governance. I conclude that Bitcoin falls short in its self-governing ambitions, while cryptocurrency software protocols and blockchain technologies have potentialities within “permissioned” peer-to-peer private or hybrid networks. However, regulation and supervision by trusted third parties are required

Similarities and Dissimilarities between Original Institutional Economics and New Institutional Economics

Original Institutional Economics and New Institutional Economics display several similarities. However, differences in methodology and normative stance are too big to reconcile both approaches. Both approaches may keep each other sharp

Theory and Reality of Cryptocurrency Governance

I analyze cryptocurrency ecosystems with Elinor Ostrom’s meta-framework for self-governance. I conclude that Bitcoin falls short in its self-governing ambitions, while cryptocurrency software protocols and blockchain technologies have potentialities within “permissioned” peer-to-peer private or hybrid networks. However, regulation and supervision by trusted third parties are required

It's the Institutions, Stupid! Why U.S. Health Care Expenditure Is so Different from Canada's

The United States and Canada are rather similar in social orientation. However, this is not reflected in health care. Firstly, Canada implemented the principle of universal coverage much earlier than the United States. Secondly, U.S. health care continues to rely much more on private funding and private managing, while Canadian health care relies more on cost containing public funding and governmental budgeting. These differences can be explained, among other things, by their different paths of development since the American Revolutionary War: the United States followed an independent path while Canada was oriented on Europe (for a long period of time). The different governance structures of health care and associated institutions such as lobbying result in a much higher health care expenditure in the United States than in Canada.Canada, culture, health care, United States, vested interests,

Markets and Rules: The Case of the Global Credit Crunch

>p>Neoliberal thought assumes that a free market economy promotes the application of new techniques in the most efficient way. In the financial world it especially implied the introduction of sophisticated techniques of risk management. A more realistic view says without any other control mechanism free markets produce chaos rather than order.>/p>>p>To achieve some justice and prosperity society first needs to establish some order. More prudent behavior of the economic elite, more secure codes of conduct, and a stricter legal framework of rules are necessary conditions for a financial system that fulfils its societal function well. Only then can the world continue working on a steady improvement in terms of justice and prosperity.>/p>culture, financial crisis,

Cultural Foundation of Distribution of Income: The Dutch Case

>p>Income inequality is not persistent as far as the Netherlands is concerned. Dutch income inequality diminished with the rise of the welfare state. One of the explanatory factors of the development of income inequality is the corporatist model applied to socio-economic negotiations.>/p>>p>The Dutch case endorses the view that corporatist institutions are significant for income distribution. Corporatism also may positively influence productivity. Therefore, the integration of the successful corporatist countries into the European Union does not imply that they have to converge to the socio-economic governance structure of the other countries. It is likely that European countries, such as the Netherlands, can continue their approach to income equality.>/p>corporatism, income inequality, productivity, the Netherlands,