What fundamental aspect does this approach overlook regarding institutions?
Understand the Problem
The question is asking to identify a fundamental aspect that is potentially overlooked by a particular approach regarding institutions. The options provided suggest different dimensions of institutional analysis that might not be fully considered.
Answer
Conflicting interests in resource distribution and political power shaping institutions.
The approach overlooks the importance of conflicting interests over the distribution of resources and the role of political power in shaping economic institutions.
Answer for screen readers
The approach overlooks the importance of conflicting interests over the distribution of resources and the role of political power in shaping economic institutions.
More Information
The approach in question appears to neglect how differing interests impact the creation and control of economic institutions, which are often driven by power dynamics.
Sources
- [PDF] INSTITUTIONS AS A FUNDAMENTAL CAUSE OF LONG-RUN ... - economics.mit.edu
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