Send us a text Corruption persists not because people like it, but because it becomes embedded in the incentive structure of the state, creating feedback loops that reinforce themselves and resist reform. • A prebend is a type of benefice historically given to clergymen, now a useful concept for understanding corruption in developing nations • Douglas North extended Coase's concept of transaction costs to explain why institutions matter in economics and politics • Bad institutions crea...
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Send us a text Corruption persists not because people like it, but because it becomes embedded in the incentive structure of the state, creating feedback loops that reinforce themselves and resist reform. • A prebend is a type of benefice historically given to clergymen, now a useful concept for understanding corruption in developing nations • Douglas North extended Coase's concept of transaction costs to explain why institutions matter in economics and politics • Bad institutions crea...
Transaction Costs and Constitutions: India's Balancing Act, with Shruti Rajagopalan
The Answer Is Transaction Costs
1 hour 3 minutes
7 months ago
Transaction Costs and Constitutions: India's Balancing Act, with Shruti Rajagopalan
Send us a textWhat if transaction costs could shape entire political and economic systems? Join us for an insightful discussion with Shruti Rajagopalan, a senior research fellow at the Mercatus Center, as she takes us through her fascinating journey from the University of Delhi to George Mason University. Her research on India's economic liberalization shaped her understanding of economics and public choice theory, and now she is looking at the Indian Constitution as a subject of study. She s...
The Answer Is Transaction Costs
Send us a text Corruption persists not because people like it, but because it becomes embedded in the incentive structure of the state, creating feedback loops that reinforce themselves and resist reform. • A prebend is a type of benefice historically given to clergymen, now a useful concept for understanding corruption in developing nations • Douglas North extended Coase's concept of transaction costs to explain why institutions matter in economics and politics • Bad institutions crea...
