Markets, Individual Interest and Social Governance

Chong Choi, Brian Hilton and Carla Millar

Chapter 6 in Emergent Globalization, 2004, pp 77-92 from Palgrave Macmillan

Abstract: Abstract Emergent systems1 face major challenges. To take advantage of the business opportunities available they need a well-ordered institutional environment; enterprise requires this. Generally they cannot provide this themselves and thus third-party intervention is required. The states in this category have nevertheless all had phenomenal economic growth, high rates of population expansion and ever-increasing numbers of globally successful enterprises – Embraer Aircraft for Brazil, Proton cars for Malaya, Samsung electronics for Korea and, further back in time, a company like Toyota for Japan.

Keywords: Transaction Cost; Social Trust; Individual Interest; Business System; Institutionalize Trust (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1057/9780230287433_6

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