Institutional economics

To: Mike Allery From: Vikash Patel Subject: 2015 Funding Date: 10/08/2015 Today one of the two proposed evolutions will be funded $25,000 from my agency. We will be briefly discussing each evaluation that is submitted and which one seems to qualify for the grant. We will go through the basic checklists that a successful evaluation must have to receive the grant for their organization. The first proposed evaluation is the Grant County SPF SIG evaluation plan, which is a worksite alcohol…

There are seven industrial relation foundations outlined by John W.Budd, which include legal environment, economic environment, technical environment, political environment, social environment, business context and institutional context. These industrial relation foundations help us determine the employment outcomes which result from interactions between “employees and employers in the sociopolitical strategic, functional and workplace tiers of the employment relationship shaped by the…

strategies as a key element for economic success. Between 2004 and 2013 the corporate social responsibility investments of the 261 world leading companies increased from US$7,6 billion to US$25 billion, roughly a growth of 328% (CECP, 2005 and 2014). Such a sum not only is important in terms of its size, which is above the annual GDP of at least 82 developing countries but also, and probably more significant, such increase occurred during and after the 2008 financial and economic crisis. Instead…

PEA looks at the relationship between economics and politics embedded in the societal context. As it is concerned with the interactions with power, the distribution of wealth and the way these processes are shaped over time (DFID: 2009). This can give donor institutions an edge over policy issues in to allow the better interpretation of risk and reward. I will construct the argument that PEA is central for linking political analysis wider institutional processes within society. PEA provides a…

of the role of power in an economic society. In his writing Power and the Useful Economist, Galbraith presents the idea that the state plays a significant role in deciding how the economy spends its productive capacity. In Veblen’s writing The Theory of the Leisure Class, he presents critical thinking and theories that pertain to the habits of individuals in society and their related social norms. Both economists present their ideas from the view of institutional economics. This perspective…

examine voting patterns of institutional shareholders on antitakeover amendments. The authors are particularly interested in institutional shareholders (i.e. mutual funds, pension funds, endowments) because they often do not take an active role in the voting process, but rather follow the Wall Street Rule (either voting with managers or selling their stock in the case of policy disagreements) when voting on antitakeover provisions. The authors find that that institutional investors and other…

In devising economic policy, leaders do face certain constraints in the broad historical forces that have shaped their countries’ social and institutional structures. However, it is difficult to say that leaders are solely constrained by the historical factors and cannot ignore nor harness the historical factors to achieve economic and political goals. Throughout history, we have witnessed that leaders have been able to devise and implement economic policy despite the constraint of historical…

its own self-interest, and in turn act upon that self-interest. Economists have traditionally used the concept to describe a rational individual who quantifies their self-interest while enjoying true economic freedom. These concepts were central to Adam Smith’s notion of the invisible hand and economic efficiency. According to Smith, the most efficient economies are those that allow individuals the freedom to pursue their own self-interest free of government intervention (Ward, 104). Ian Ward,…

capita is over 1,000 international dollars per annum at the end of the previous century. The distinct place in terms of development Africa occupies in the world, and the variability of growth experiences on the continent merits an analysis of economic and institutional development in an African sample. This thesis will do so by taking a historical approach. We try to asses the impact of initial conditions on development paths in later times. Initial conditions, i.e. the situation present before…

Malthusian Constraints versus Market Incentives in Europe Developments and its constraints in any given population largely depend on a number of factors. These factors include population growth, availability of technology, economic activities, and political atmosphere, among others. Most of these factors are what contributed to the Industrial Revolution in Europe and lead to improvement in the living standards of the Europeans. There are two important theories that explain the constraints in…