IDEAS home Printed from https://ideas.repec.org/a/bla/ajecsc/v79y2020i4p1241-1269.html
   My bibliography  Save this article

Catholic Social Thought and New Institutional Economics: An Assessment of Their Affinities and Areas of Potential Convergence

Author

Listed:
  • Eileen Norcross
  • Paul Dragos Aligica

Abstract

The potential link between Catholic social teaching (CST) and the theoretical developments associated with new institutional economics (NIE) are explored. The emphasis is on the contributions of two Nobel Prize winners in economics—Douglass C. North and Elinor Ostrom—and on the work of political scientist Vincent Ostrom. By adjusting the neoclassical presumptions dominating modern economic theory to include culture, ideas, and religious beliefs in the analysis of economic behavior, the economic and social theorizing developed by these scholars advances a framework that has significant affinities with CST’s foundational critique of economic concepts and theories and with its normative position regarding the nature and functioning of social and economic systems.

Suggested Citation

  • Eileen Norcross & Paul Dragos Aligica, 2020. "Catholic Social Thought and New Institutional Economics: An Assessment of Their Affinities and Areas of Potential Convergence," American Journal of Economics and Sociology, Wiley Blackwell, vol. 79(4), pages 1241-1269, September.
    • Handle: RePEc:bla:ajecsc:v:79:y:2020:i:4:p:1241-1269
    DOI: 10.1111/ajes.12352
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/ajes.12352
    Download Restriction: no
    File URL: https://libkey.io/10.1111/ajes.12352?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Richard E. Wagner, 2012. "Deficits, Debt, and Democracy," Books, Edward Elgar Publishing, number 14477.
    2. Charles M.A. Clark, 1992. "Economic Theory And Natural Philosophy," Books, Edward Elgar Publishing, number 89.
    3. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    4. Arthur T. Denzau & Douglass C. North, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31, February.
    5. Boettke, Peter J. & Coyne, Christopher J., 2005. "Methodological individualism, spontaneous order and the research program of the Workshop in Political Theory and Policy Analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 57(2), pages 145-158, June.
    6. Charles M.A. Clark, 2019. "Catholicism and Economics: Towards a “Deeper Reflection on the Nature of the Economy and its Purposes”," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(2), pages 409-441, March.
    7. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    8. Claude Ménard & Mary M. Shirley (ed.), 2008. "Handbook of New Institutional Economics," Springer Books, Springer, number 978-3-540-69305-5, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Harris,Colin & Cai,Meina & Murtazashvili,Ilia & Murtazashvili,Jennifer Brick, 2020. "The Origins and Consequences of Property Rights," Cambridge Books, Cambridge University Press, number 9781108969055, September.
    2. Brousseau, Eric & Garrouste, Pierre & Raynaud, Emmanuel, 2011. "Institutional changes: Alternative theories and consequences for institutional design," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1-2), pages 3-19, June.
    3. Kerekes, Carrie B. & Williamson, Claudia R., 2008. "Unveiling de Soto's mystery: property rights, capital formation, and development," Journal of Institutional Economics, Cambridge University Press, vol. 4(3), pages 299-325, December.
    4. Joachim Ahrens & Patrick Jünemann, 2011. "Adaptive Efficiency and Pragmatic Flexibility: Characteristics of Institutional Change in Capitalism, Chinese-style," Chapters, in: Werner Pascha & Cornelia Storz & Markus Taube (ed.), Institutional Variety in East Asia, chapter 2, Edward Elgar Publishing.
    5. Masahiko Aoki, 2013. "Institutions as cognitive media between strategic interactions and individual beliefs," Chapters, in: Comparative Institutional Analysis, chapter 17, pages 298-312, Edward Elgar Publishing.
    6. didier chabaud & Parthenay Claude & Yannick Perez, 2005. "Environnement institutionnel et trajectoire des entreprises : une analyse northienne de l’industrie électrique," Post-Print hal-04297605, HAL.
    7. Coyne, Christopher J. & Mathers, Rachel L., 2011. "Rituals: An economic interpretation," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1), pages 74-84.
    8. Thomas S. Ulen, 2011. "The Uneasy Case for Competition Law and Regulation as Decisive Factors in Development: Some Lessons for China," Chapters, in: Michael Faure & Xinzhu Zhang (ed.), Competition Policy and Regulation, chapter 2, Edward Elgar Publishing.
    9. Nathalie Méndez Méndez, 2015. "Institucionalismo cognitivo, capital social y la construcción de la paz en Colombia," Revista Economía y Región, Universidad Tecnológica de Bolívar, vol. 9(1), pages 67-90, June.
    10. Focacci, Chiara Natalie & Kovac, Mitja & Spruk, Rok, 2023. "Ethnolinguistic diversity, quality of local public institutions, and firm-level innovation," International Review of Law and Economics, Elsevier, vol. 75(C).
    11. Garofalo, Maria Rosaria, 2011. "Il volontariato può sostenere lo sviluppo? Riflessioni metodologiche per la costruzione di un frame work teorico [Can the voluntary sector sustain the development path of an economy? Suggestions fo," MPRA Paper 40008, University Library of Munich, Germany.
    12. Maseland, Robbert, 2021. "Contingent determinants," Journal of Development Economics, Elsevier, vol. 151(C).
    13. Karla Hoff, 2016. "Behavioral Economics and Social Exclusion: Can Interventions Overcome Prejudice?," International Economic Association Series, in: Kaushik Basu & Joseph E. Stiglitz (ed.), Inequality and Growth: Patterns and Policy, chapter 6, pages 172-200, Palgrave Macmillan.
    14. Hall, Stephen G & Ahmad, Mahyudin, 2013. "Can Trust Explain Social Capital Effect on Property Rights and Growth?," MPRA Paper 48440, University Library of Munich, Germany.
    15. Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
    16. Torsten Heinrich & Henning Schwardt, 2013. "Institutional Inertia and Institutional Change in an Expanding Normal-Form Game," Games, MDPI, vol. 4(3), pages 1-28, August.
    17. Michael Storper, 2010. "Why Does a City Grow? Specialisation, Human Capital or Institutions?," Urban Studies, Urban Studies Journal Limited, vol. 47(10), pages 2027-2050, September.
    18. Rui Wang & Qianmao Zhu & Matthew Noellert, 2024. "Weak central government, strong legal rights: the origins of divergent legal institutions in 18th-century Chinese and Japanese rice markets," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    19. Félix-Fernando Muñoz & María-Isabel Encinar, 2019. "Some elements for a definition of an evolutionary efficiency criterion," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 919-937, July.
    20. Alvarez-Diaz, Marcos & Caballero Miguez, Gonzalo, 2008. "The quality of institutions: A genetic programming approach," Economic Modelling, Elsevier, vol. 25(1), pages 161-169, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ajecsc:v:79:y:2020:i:4:p:1241-1269. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.