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| Author: | Metcalfe, J. S. |
| Title: | Institutions and progress |
| Journal: | Industrial and Corporate Change
2001 : SEP, special issue, VOL. 10:3, p. 561-586 |
| Index terms: | CAPITALISM EQUILIBRIUM THEORY INSTITUTIONAL ECONOMICS |
| Freeterms: | PROGRESS |
| Language: | eng |
| Abstract: | An insistent theme in Richard Nelson's work is that of "capitalism as an engine of progress". In this paper the author explores this idea through a sequence of his writing, distinguishing progress as outcome from progress as instituted process. This leads to a deeper issue within this Nelsonian theme, namely the incompatibility between progress and equilibrium. |
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