Activity

[...] Institutions are habituated ways of thinking and acting, structured within formal organizations or informal culture patterns (Berger and Luckann 1966). As mediators of social interaction, institutions are biased or coercive toward certain processes and outcomes. They tune consciousness--what …

[...] adult education provides people with option value. It may also help mitigate some of the problems of inequality we described in chapter 6: to the extent that the growth of intangibles disadvantages those with poor skills and makes some skills obsolete, the availability of training offers a wa…

[...] Establishing these kinds of exchanges is a major undertaking, requiring significant coordination between rights-holders, content platforms, collection agencies, and governments. But it may be worth the effort: efficient markets and platforms for exchanging IP will be economically valuable in …

The exercise of authority seems like a good description of the Amazon warehouse above. A lot of careful process engineering has combined to allow a system where the optimal route around the warehouse can be computed very efficiently. As the economist Luis Garicano has pointed out (2000), enhancemen…

A third aspect of finance is the perception that venture capital will be very important for the economies of the future. It is hard to think of a major developed country whose government has not spent taxpayers' money in an attempt to build or grow its VC sector. Most developed countries have put i…