Argues that rather than institution expansion indicating the movement of markets to optimal states, expanding institutions generate information costs. This book demonstrates that these costs are the pressure mechanism that transform production probabilities and the intricacies of human exchange.
JACOB P. RODRIGUEZ received his Ph.D. from the Claremont Graduate University. His current research interests include institutional change, the behavior of information in the economy, collective decision-making, and philosophies of education. STEVEN R. LOOMIS serves on the faculty of Wheaton College in Illinois. His research interests include the political economy of institutions worldwide. JOSEPH G. WEERES received his Ph.D. from the University of Chicago and is Professor Emeritus at The Claremont Graduate University. His research focuses on institutional development, leadership and policy.
Jacob P. Rodriguez, Joseph G. Weeres, Steven R. Loomis