Blockchains are the distributed ledger technology that powers Bitcoin and other cryptocurrencies. But blockchains can be used for more than the transfer of tokens – they are a significant new economic infrastructure. This book offers the first scholarly analysis of the economic nature of blockchains and the shape of the blockchain economy. By applying the institutional economics of Ronald Coase and Oliver Williamson, this book shows how blockchains are poised to reshape the nature of firms, governments, markets, and civil society.
Browse by title
An Introduction to Institutional Cryptoeconomics
Chris Berg, Sinclair Davidson and Jason Potts
Trent J. MacDonald
Territorial political organisation forms the backbone of western liberal democracies. However, political economists are increasingly aware of how this form of government neglects the preferences of citizens, resulting in dramatic conflicts. The Political Economy of Non-Territorial Exit explores the theoretical possibility of ‘unbundling’ government functions and decentralising territorial governance.
Exploring the Biological Foundations of Managing People at Work
Andrew R. Timming
Answering pressing questions regarding employee selection and mobbing culture in the workplace, Andrew R. Timming explores the unique intersection of the biological sciences and human resource management.
This authoritative research review discusses the most influential papers relating to the economics of transfer pricing. The piece notably covers the topic of transfer pricing in light of divisionalization, government regulations, bargaining models, market distortions and product characteristics as well as touching on the important subjects of empirical estimates of transfer price manipulation and transfer mispricing estimates. Written by Lorraine Eden, one of the founders and a leading contributor to the field, this research review promises to be useful reading for doctoral students, faculty members and policy makers who wish to extend their knowledge on the economics of transfer pricing.
Edited by Claude Ménard and Mary M. Shirley
Consisting of 30 concise chapters written by top scholars, this Research Agenda probes the knowledge frontiers of issues long at the forefront of New Institutional Economics (NIE), including government, contracts and property rights. It examines pressing research questions surrounding norms, culture, and beliefs. It is designed to inform and inspire students and those starting their careers in economics, law and political science. Well-established scholars will also find the book invaluable in updating their understanding of crucial research questions and seeking new areas to explore.
Government vs Market
China’s experience over the past decades is not just a story of economic growth, it is also one of institutional change. The current political-economic system is a bureaucratic market system, in which the government and the market both coexist and conflict with each other. This book gives a detailed description of the institutional evolution in China, using large amounts of documents and cases. The book provides a theory explaining the origin of China’s reform, the political and economic forces driving the reform, and the reasoning behind the stagnation and turn-over of reform.
An Institutional Critique
Frank H. Stephen
This book draws on the analytical framework of New Institutional Economics (NIE) to critically examine the role which law and the legal system play in economic development. Analytical concepts from NIE are used to assess policies which have been supported by multilateral development organisations including securing private property rights, reform of the legal system and financial development. The importance of culture in shaping the legal environment, which in turn influences financial sector development, is also assessed using Oliver Williamson’s ‘levels of social analysis’ framework.
Building Resilience Through Transitions
Edited by Frances Westley, Katherine McGowan and Ola Tjörnbo
In a time where governments and civil society organizations are putting ever-greater stock in social innovation as a route to transformation, understanding what characterizes social innovation with transformative potential is important. Exciting and promising ideas seem to die out as often as they take flight, and market mechanisms, which go a long way towards contributing to successful technical innovations, play an insignificant role in social innovations. The cases in this book explore the evolution of successful social innovation through time, from the ideas which catalysed social and system entrepreneurs to create new processes, platforms, projects and programs to fundamental social shifts in culture, economics, laws and policies which occurred as a result. In doing so, the authors shed light on how to recognize transformative potential in the early stage innovations we see today.
Topics and Issues from European Research
Edited by Georg Krücken, Carmelo Mazza, Renate E. Meyer and Peter Walgenbach
Institutional theory has become one of the dominant organizational approaches in recent decades. Its roots can be traced to Europe, and an important intellectual objective of this book is to examine North American theory strands and reconnect them with European research traditions. In addition, this book focuses on how organizations and individuals handle heterogeneous and challenging social conditions which are subsequently reflected in various forms of change.
Åke E. Andersson and David Emanuel Andersson
In this challenging book, the authors demonstrate that economists tend to misunderstand capital. Frank Knight was an exception, as he argued that because all resources are more or less durable and have uncertain future uses they can consequently be classed as capital. Thus, capital rather than labor is the real source of creativity, innovation, and accumulation. But capital is also a phenomenon in time and in space. Offering a new and path-breaking theory, they show how durable capital with large spatial domains — infrastructural capital such as institutions, public knowledge, and networks — can help explain the long-term development of cities and nations.