When is Enough Going to Be Enough?

|Peter Boettke|

Wolfgang Kasper has a new article up at the Edward Elgar blog dealing with the failed policies of the Eurozone.  The teaser for the article states: "The Eurozone is in crisis, and only bold reforms can tackle the root causes.  In the following article, Wolfgang Kasper explains why we should be tuning the clock back to before the Maasstricht Treaty, and proposes that an understanding of institutional economics is crucial in order to comprehend the current politico-economic predicament." I recommend reading the entire piece.

Late in 2012, we published the second edition of Institutional Economics: Property, Competition, Policies.  The book is available in eBook, paperback and cloth.  This book is appropriate for use with advanced undergraduates as well as graduate students as a main text or supplemental text for classes addressing comparative instituitonal analysis and applied price theory.

Comments

[Roger McKinney]

“Returning to before the Maastricht Treaty is the only hope for a prosperous, harmonious and peacefully integrated European community.”
I don’t get that at all. The problems with the Big EZ South have little to do with the Euro and a lot to do with socialism. The Big EZ North rebalanced their market socialism and gave a little more room for the market to make their economies to grow. The Big EZ South stubbornly refused to rebalance, although Spain seems to have made some important improvements which show in its economic improvement. Maybe the Austrian economists there have some influence.

[Richard Ebeling]

I have not seen the new edition of "Institutional Economics."

But I did read the first edition when it came out. And I can highly recommend the book.

It is an excellent exposition of the ideas of the "new institutionalism," which in the first edition already had a heavy "Austrian" aspect to it.

I'm sure that in this revised edition it is even better.

Richard Ebeling