The Rules of the Game

Peter V. Schaefer
Additional contact information
Peter V. Schaefer: West Virginia University

The Review of Regional Studies, 2018, vol. 48, issue 3, 271-277

Abstract: The success or failure of economic actors depends on a variety of factors, which I sort into three groups: attitudes and values, endowments, and rules. Of these three, we only fully control for factors in the first group. Factors in the other two groups are determined by luck, though through individual effort we may enhance them, particularly endowments such as talent or inherited resources. As individuals, most of us have no or very little influence on rules. Rules depend on power, and most people exercise power only indirectly as members of a group or groups. In this address, I focus on the rules, which also means that I focus on power, a neglected topic in economic development, and in modern economics in general.

Keywords: rules; representation; power (search for similar items in EconPapers)
JEL-codes: A13 D02 D30 D40 D63 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://journal.srsa.org/ojs/index.php/RRS/article/view/1234 To View On Journal Page
http://journal.srsa.org/ojs/index.php/RRS/article/view/1234/875 To Download Article

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rre:publsh:v48:y:2018:i:3:p:271-277

Access Statistics for this article

The Review of Regional Studies is currently edited by Tammy Leonard & Lei Zhang and Lei Zhang

More articles in The Review of Regional Studies from Southern Regional Science Association Contact information at EDIRC.
Bibliographic data for series maintained by Tammy Leonard & Lei Zhang ().