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Contesting prior assumptions that institutions simplify the world for the sake of efficiency, this book argues that rather than institution expansion indicating the movement of markets to optimal states, expanding institutions generate information costs. The authors demonstrate by logic and example that these costs are the pressure mechanism that transforms production probabilities and the intricacies of human exchange, causing the loss of the capacity to preserve individual liberty.
| ISBN | 1403979693 | | Pages | 224 | | ISBN13 | 9781403979698
(What's this?) | | Volumes | 1 | | Publisher | Palgrave USA | | Weight (grammes) | 354 | | Imprint | Palgrave Macmillan | | Published in | Gordonsville | | Format | Hardback | | Height (mm) | 234 | | Publication date | 27 Jul 2007 | | Width (mm) | 156 | | Library of Congress | 2006036370 | | Spine width (mm) | 18 | | DEWEY | 330 | | Academic level | Professional / Scholarly, Postgraduate | | DEWEY edition | DC22 | |
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| 1 | | Expansion under uncertainty | | 15 | | 2 | | The state : an information theory | | 31 | | 3 | | Establishing direction in education production | | 61 | | 4 | | The individual and the collective in education | | 79 | | 5 | | Markets : the logic of convergence | | 101 | | 6 | | Market failure in the preservation of liberty | | 141 |
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