Could we build a bridge between Austrian Economics and New Institutional Economics? A Pré-History of the Soft Budget Constraint

Claudio Shikida

Method and Hist of Econ Thought from University Library of Munich, Germany

Abstract: The concept of soft budget constraint is recent in economic analysis. It has become increasingly important in economic theory, for its role as a system of incentives. However, soft budget constraint plays also an important role in the history of economic thought, where it can be traced back until Mises's writings on economic calculation and property rights, both derived from the debate of the economic calculation in socialist regimes. In this sense, soft budget constraint can be viewed as a bridge between Austrian Economics and New Institutional Economics. Since Mises, like other Austrian economists, is virtually ignored in Brazilian courses of Economic Thought, this article intends to show his importance as a forerunner of the concept of soft budget constraint, and will try to link these two theoretical views of economic systems.

Keywords: Austrian; Economics; New; Institutional; Economics; Soft; Budget; Constraint (search for similar items in EconPapers)
JEL-codes: B (search for similar items in EconPapers)
Pages: 13 pages
Date: 2003-07-20
New Economics Papers: this item is included in nep-cbe, nep-eec and nep-hpe
Note: Type of Document - pdf; prepared on Windows Word; to print on HP/PostScript/Franciscan monk; pages: 13. comments and critics are welcome. Preliminar research in history of economic thought
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/mhet/papers/0307/0307002.pdf (application/pdf)

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:wpa:wuwpmh:0307002

Access Statistics for this paper

More papers in Method and Hist of Econ Thought from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).