The Cost of Institutions

Contesting prior assumptions that institutions simplify the world for the sake of efficiency, this book argues that rather than institution expansion indicating the movement of markets to optimal states, expanding institutions generate information costs.

Autorentext
JACOB P. RODRIGUEZ received his Ph.D. from the Claremont Graduate University. His current research interests include institutional change, the behavior of information in the economy, collective decision-making, and philosophies of education.

STEVEN R. LOOMIS serves on the faculty of Wheaton College in Illinois. His research interests include the political economy of institutions worldwide.

JOSEPH G. WEERES received his Ph.D. from the University of Chicago and is Professor Emeritus at The Claremont Graduate University. His research focuses on institutional development, leadership and policy.

Inhalt
Introduction Expansion Under Uncertainty The State: An Information Theory Establishing Direction in Production: The Special Case of Education The Individual and Collective in Education Politics and Markets: The Logic of Convergence Market Failure in the Preservation of Liberty