Five Propositions of Institutional Change.pdf

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1、1FIVEPROPOSITIONSABOUTINSTITUTIONALCHANGE*byDouglassC.North,WashingtonUniverasity,St.LouisThefivepropositionsaboutinstitutionalchangeare:1.Thecontinuousinteractionbetweeninstitutionsandorganizationsintheeconomicsettingofscarcityandhencecompetitionisthekeytoinstitutionalchang

2、e.2.Competitionforcesorganizationstocontinuallyinvestinskillsandknowledgetosurvive.Thekindsofskillsandknowledgeindividualsandtheirorganizationsacquirewillshapeevolvingperceptionsaboutopportunitiesandhencechoicesthatwillincrementallyalterinstitutions.3.Theinstitutionalframewo

3、rkprovidestheincentivesthatdictatethekindsofskillsandknowledgeperceivedtohavethemaximumpay-off.4.Perceptionsarederivedfromthementalconstructsoftheplayers.5.Theeconomiesofscope,complementarities,andnetworkexternalitiesofaninstitutionalmatrixmakeinstitutionalchangeoverwhelming

4、lyincrementalandpathdependent.PartIExplanationIThestudyofinstitutionsandinstitutionalchangenecessitatesasafirstrequirementtheconceptualseparationofinstitutionsfromorganizations.InstitutionsaretherulesofthegameandorganizationsaretheplayersTheinteractionbetweenthetwoshapesinst

5、itutionalchange.Institutionsaretheconstraintsthathumanbeingsimposeonhumaninteraction.Theyconsistofformalrules(constitutions,statutelaw,commonlaw,regulations)andinformalconstraints(conventions,normsandselfenforcedcodesofconduct)andtheirenforcementcharacteristics.Thoseconstrai

6、ntsdefine(togetherwiththestandardconstraintsofeconomics)theopportunitysetintheeconomy.Organizationsconsistofgroupsofindividualsboundtogetherbysomecommonobjectives.Firms,tradeunions,cooperativesareexamplesofeconomicorganizations;politicalparties,theSenate,regulatoryagenciesil

7、lustratepoliticalorganizations;religiousbodies,clubsareexamplesofsocialorganizations.Theopportunitiesprovidedbytheinstitutionalmatrixdeterminethekindsoforganizationsthatwillcomeintoexistence;theentrepreneursoforganizationsinduceinstitutionalchangeastheyperceiveneworalteredop

8、portunities.Theyinduceitbyalteringtherules(directlyinthecaseofpoliticalbodi