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Book part
Publication date: 3 August 2015

Ion Sterpan and Paul Dragos Aligica

This paper explores the interface between institutional theory and Austrian theory. We examine mainstream institutionalism as exemplified by D. C. North in his work with…

Abstract

This paper explores the interface between institutional theory and Austrian theory. We examine mainstream institutionalism as exemplified by D. C. North in his work with Wallis and Weingast on the elite compact theory of social order and of transitions to impersonal rights, and propose instead an Austrian process-oriented perspective. We argue that mainstream institutionalism does not fully account for the efficiency of impersonal rules. Their efficiency can be better explained by a market for rules, which in turn requires a stable plurality of governance providers. Since an equilibrium of plural providers requires stable power polycentricity, the implication goes against consolidating organized means for violence as a doorstep condition to successful transitions. The paper demonstrates how to employ Ostroms’ Bloomington School Institutionalism to shift, convert, and recalibrate mainstream institutionalism's themes into an Austrian process-oriented theory.

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New Thinking in Austrian Political Economy
Type: Book
ISBN: 978-1-78560-137-8

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Book part
Publication date: 18 November 2020

Julie Berg and Clifford Shearing

Policing in much of the developing world has always been, in many respects, both dominated by the nonstate and pluralised. Yet, plurality and the nonstate are…

Abstract

Policing in much of the developing world has always been, in many respects, both dominated by the nonstate and pluralised. Yet, plurality and the nonstate are predominantly conceptualised, by scholars and practitioners alike, as problematic, noninclusive and/or undemocratic. Yet the reality is far more complex than this. In this chapter, we turn the tables on conventional wisdom by looking to the positive features of plural or polycentric forms of security governance by asking how these features might be utilised to provide for more inclusive forms of security governance in the Global South. Drawing on empirical research in South Africa on plural policing arrangements, this chapter considers how Sustainable Development Goal 16 which seeks to ‘promote peaceful and inclusive societies’ might be realised within plural governance systems. This chapter seeks to demonstrate that certain conditions need to be in place for plural or polycentric systems of security governance to coprovide effective and inclusive security for the collective good and, furthermore, that the positive features of the nonstate can be harnessed to give effect to the SDGs.

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The Emerald Handbook of Crime, Justice and Sustainable Development
Type: Book
ISBN: 978-1-78769-355-5

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Book part
Publication date: 17 October 2017

Paul Lewis

This chapter uses the theory of complex systems as a conceptual lens through which to compare the work of Friedrich Hayek with that of Vincent and Elinor Ostrom. It is…

Abstract

This chapter uses the theory of complex systems as a conceptual lens through which to compare the work of Friedrich Hayek with that of Vincent and Elinor Ostrom. It is well known that, from the 1950s onwards, Hayek conceptualised the market as a complex adaptive system. It is argued in this chapter that, while the Ostroms began explicitly to describe polycentric systems as a class of complex adaptive system from the mid-to-late 1990s onwards, they had in fact developed an account of polycentricity as displaying most if not all of the hallmarks of organised complexity long before that time. The Ostromian and Hayekian approaches can thus be seen to share a good deal in common, with both portraying important aspects of society – the market economy in the case of Hayek, and public economies, legal and political systems, and environment resources in the case of the Ostroms – as complex rather than simple systems. Aside from helping to bring out this aspect of the Ostroms’ work, using the theory of complex systems as a framework for comparing the Hayekian and Ostromian approaches serves two other purposes. First, it can be used to show how one widely criticised aspect of Hayek’s theory of society as a complex system, namely his account of cultural evolution via group selection, can be strengthened by an appeal to the work of Elinor Ostrom. Second, it also helps to resolve a tension – ultimately acknowledged by the Ostroms themselves – between some of their explicit methodological pronouncements and the actual, substantive approach they adopted in their analysis of polycentric systems.

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The Austrian and Bloomington Schools of Political Economy
Type: Book
ISBN: 978-1-78714-843-7

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Article
Publication date: 25 June 2021

Maria Lucas Rhimbassen and Lucien Rapp

In the absence of a clear property rights regime in outer space, commodification might bypass several legal considerations and instill a regime through customary practice…

Abstract

Purpose

In the absence of a clear property rights regime in outer space, commodification might bypass several legal considerations and instill a regime through customary practice, which could collide with international space law ethics, and thus, erode the corpus juris spatialis. The purpose of this paper is to find a way to prevent such an erosion.

Design/methodology/approach

Through an interdisciplinary review of the literature pertaining to space law, space property rights, economic goods, resources and commodities, this paper explores potential solutions to prevent further fragmentation of the corpus juris spatialis when confronted with the elusive transnational lex mercatoria dynamics and potential commodification of the space ecosystem.

Findings

This paper explores solutions to prevent this outcome through decentralized frameworks ranging from polycentric governance to a new “space antitrust” regime. Polycentric governance could prove very useful to address the plurality of space property rights and their complexity while space antitrust would not be precluded to intervene in a commoditized space market. Commodities benefited in the past from a certain antitrust immunity, however, due to globalization, technological development and deregulation, commodities have become more competitive, and therefore, the immunity is being gradually overturned.

Originality/value

This paper explores the benefits of unlocking antitrust potential forces into channeling, hand in hand with polycentricity, the development of the space ecosystem in light of international space law ethics. “Space antitrust” could become a discipline per se and better resonate with non-traditional stakeholders in the space sector in a context of commercialization and commodification of resources. Today, benefit-sharing causes debate among spacefaring nations in terms of property rights. However, it could be enforced through competition law dynamics.

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Journal of Property, Planning and Environmental Law, vol. 13 no. 2
Type: Research Article
ISSN: 2514-9407

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Philosophy, Politics, and Austrian Economics
Type: Book
ISBN: 978-1-83867-405-2

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Philosophy, Politics, and Austrian Economics
Type: Book
ISBN: 978-1-83867-405-2

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Book part
Publication date: 17 October 2017

Anas Malik

Both the Austrian and Bloomington Schools emphasize the dispersal of information to the level of individual agents. An underappreciated difference is the Bloomington…

Abstract

Both the Austrian and Bloomington Schools emphasize the dispersal of information to the level of individual agents. An underappreciated difference is the Bloomington emphasis on the moral psychology of agents and its relation to covenant. Covenant refers to a habit, a sense of obligation to consider the interests of the other in decision making, and a commitment to do so that is not easily or unilaterally broken. This chapter seeks to elaborate the lineage of covenant in constituting political order and its implications for the moral psychology of agents and artisanship. This exploration raises issues of metaphysical foundations as they relate to values and to the Hobbesian–Aristotelian divide in starting points. An application to the environmental crisis, with particular reference to vested interests promoting disinformation, obfuscation, and doubt about anthropogenic climate change, suggests value in emphasizing covenant.

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The Austrian and Bloomington Schools of Political Economy
Type: Book
ISBN: 978-1-78714-843-7

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Book part
Publication date: 18 November 2020

Abstract

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The Emerald Handbook of Crime, Justice and Sustainable Development
Type: Book
ISBN: 978-1-78769-355-5

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Article
Publication date: 2 July 2020

Víctor Damián Medina and Andrés Niembro=

Taking as a case study the city of San Carlos de Bariloche – in northern Patagonia, Argentina – this paper aims to compare its urban structure with previous urbanization…

Abstract

Purpose

Taking as a case study the city of San Carlos de Bariloche – in northern Patagonia, Argentina – this paper aims to compare its urban structure with previous urbanization models and identify some characteristics of this tourist city that could inspire the construction of an adapted urban model for Latin American tourist cities, particularly those based on natural attractions.

Design/methodology/approach

Based on multivariate analysis of population census data and local economic statistics, this paper compares the residential location of different social groups and the location of main economic activities in Bariloche. First, principal component analysis (PCA) is combined with cluster analysis to classify Bariloche’s neighborhoods. Second, different maps are analyzed to study the location of economic activities, in comparison with previous clusters.

Findings

The results of this paper show that Bariloche partially adjusts to previous urbanization models, as the landscape and physical environment determine the characteristics of its urban growth, as well as the development of tourist activities. Therefore, this paper then proposes an adapted urban model for the case of Bariloche, which could be also contrasted with other Latin American tourist cities in the future.

Originality/value

Bearing in mind that there is no model of Latin American tourist cities so far, this paper tries to analyze to what extent the assumptions and patterns of previous urban models could be adapted to Latin American tourist cities, such as Bariloche, which base their attractiveness and economic dynamism on its natural physical environment.

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International Journal of Tourism Cities, vol. 6 no. 4
Type: Research Article
ISSN: 2056-5607

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Book part
Publication date: 29 October 2020

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Philosophy, Politics, and Austrian Economics
Type: Book
ISBN: 978-1-83867-405-2

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