DISINTEGRATION IN AN INSTITUTIONALIZED WORLD
<p>We live in an institutionalized world, where all activities are determined by norms, procedures, and habits. The institutionalized system is a result of human’s striving for an order that lowers the transaction costs and contributes to the increase of profits from economic activity. The sys...
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| Format: | Article |
| Language: | English |
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Uniwersytet Mikołaja Kopernika
2011-12-01
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| Series: | Ekonomia i Prawo. |
| Online Access: | http://apcz.umk.pl/czasopisma//index.php/EiP/article/view/511 |
| Summary: | <p>We live in an institutionalized world, where all activities are determined by norms, procedures, and habits. The institutionalized system is a result of human’s striving for an order that lowers the transaction costs and contributes to the increase of profits from economic activity. The system still transforms: new elements of the system are created; they are better fitted to a current economy status, they replace previous ones that did not show a satisfactory efficiency. The contradiction between formal and informal institutions may lead to a damage of existing solutions (namely formal ones). However, such disintegration is a road to integration, because it makes possible to build up a new system, in which contradictions are gradually removed. The system transformation in Poland can be such an example: more and more efficiently working system emerges after a period of institutional disintegration.</p> |
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| ISSN: | 1898-2255 2392-1625 |