Abstract
New institutional Economics (NIE) claims that Silent Trade exists. Indeed, it would constitute the first step 'as trade moves beyond the border of the village' (North). In this brief article we show both that Silent Trade - trade between parties who have only the most minimal of a shared frame of reference, without direct contact - has not existed and that NIE cannot account for the representational re-description and change in governance structure that it would entail. At least on the issue of language and learning, NIE is categorically different from Original Institutional Economics (OIE).
| Original language | English |
|---|---|
| Pages (from-to) | 517-526 |
| Number of pages | 10 |
| Journal | Journal of Economic Issues |
| Volume | 42 |
| Issue number | 2 |
| Publication status | Published - Jun-2008 |
| Event | Annual Meeting of the Association-for-Evolutionary-Economics - , Lao People's Democratic Republic Duration: 1-Jan-2008 → … |
Keywords
- institutional economics
- silent trade
- language
- gift exchange
- economic methodology
- INSTITUTIONS
- NETWORKS
- BRIDGES
- MYTH
- OLD