Deliberative institutional economics, or Does Homo oeconomicus argue?: A proposal for combining new institutional economics with discourse theory
Journal
Philosophy & Social Criticism
ISSN
0191-4537
ISSN-Digital
1461-734X
Type
journal article
Date Issued
2002-07
Author(s)
Abstract
Institutional economics and discourse theory stand unconnected next to each other, in spite of the fact that they both ask for the legitimacy of institutions (normative) and the functioning and effectiveness of institutions (positive). Both use as theoretical constructions rational individuals and the concept of consensus for legitimacy. Whereas discourse theory emphasizes the conditions of a legitimate consensus and could thus enable institutional economics to escape the infinite regress of judging a consensus legitimate, institutional economics has a tested social science paradigm (rational choice) of explaining and predicting the functioning of institutions. The article outlines a theoretical synthesis of the two theories by finding points in common and possibilities of fruitful combinations concerning the problem of legitimacy, institutional design and effectiveness of legal norms.
Language
English
Keywords
consensus
discourse theory
effectiveness of legal rules
institutional design
legitimacy
new institutional economics
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Sage
Publisher place
London
Volume
28
Number
4
Start page
361
End page
394
Pages
34
Subject(s)
Division(s)
Eprints ID
32078