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Journal of Evolutionary Economics

, Volume 2, Issue 3, pp 195–210 | Cite as

Land use systems and property rights

Evolutionary versus new institutional economics
  • Günter Hesse
Article

Abstract

Two lines of reasoning on very long term socio-economic change, which was a basic issue of classical economic thinking, are confronted: New Institutional Economics (NIE) and Evolutionary Economics (EE). It is demonstrated that EE offers an explanation which is both more consistent and more comprehensive. The case in point is the first economic revolution.

Keywords

Technical Progress Marginal Return Marginal Revenue Economic Effectiveness Exclusive Property 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag 1992

Authors and Affiliations

  • Günter Hesse
    • 1
  1. 1.Department of EconomicsUniversity of JenaJenaFRG

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