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Dignity and development

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  • Williamson, Claudia R.

Abstract

This paper explores how expanding the notion of informal institutions in the broader institutional framework provides a more complete explanation for development. Specifically, I incorporate McCloskey's notion of ‘dignity and liberty’ as part of the institutional nexus. By doing so, a richer explanation and understanding of the importance of institutions in explaining different economic outcomes is offered. Focusing on bourgeois dignity offers a precise mechanism to explain how institutions matter to support economic growth. In addition, analyzing the changing attitudes toward the bourgeoisie provides a specific example of mechanisms that can lead to institutional change.

Suggested Citation

  • Williamson, Claudia R., 2012. "Dignity and development," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 763-771.
    • Handle: RePEc:eee:soceco:v:41:y:2012:i:6:p:763-771
    DOI: 10.1016/j.socec.2011.12.013
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    2. Claudia R. Williamson, 2020. "Are we Austrian economists?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(4), pages 407-413, December.
    3. Katarina Marosevic & Zvonimir Jurkovic, 2013. "Impact Of Informal Institutions On Economic Growth And Development," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 9, pages 701-716.

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    More about this item

    Keywords

    Dignity; Liberty; Informal institutions; Culture; Economic freedom;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • Z1 - Other Special Topics - - Cultural Economics
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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