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Klappentext The purpose of this text is to introduce concepts for studying relationships between states and markets. The economy and the state are thus analyzed as networks of relationships between principals and agents! each occupying a particular position in the institutional structure. The book then analyzes systematically the effect of the organization of the state on the functioning of the economy. It isolates the conditions that trigger government's positive or negative responses to the economy. Zusammenfassung This book introduces the reader to the concepts and tools for studying relations between states and markets. The focus is methodological. Both the economy and the state are analyzed as networks of relations between principals and agents! occupying particular places in the institutional structure. Inhaltsverzeichnis 1. Introduction; Part I. Decentralized Mechanisms: 2. Market miracles and market failures; 3. Incomplete markets, imperfect information; 4. Principal-agent framework; Part II. Centralized Mechanisms: 5. The state; 6. Governments and private agents: regulation; 7. Politicians and bureaucrats: oversight; 8. Citizens and politicians: representation; Part III. The State and the Economy: 9. Government and economic growth; 10. Government and redistribution; 11. Government and insurance; 12. Epilogue; 13. Additional references.
